After the approval of Ethereum spot ETFs, the outflow from cryptocurrency exchanges amounted to over 800,000 ETH.
Around 777,000 ETH worth $3 billion were withdrawn from centralized exchanges.
It's quite possible that institutional investors are behind the outflow, awaiting regulatory approval and the launch of spot ETF ETH trading.
We're waiting for trading to start in late June to early July to see what inflows occur.
