According to Odaily, data from CryptoQuant reveals a significant decrease in Ethereum reserves held by Centralized Exchanges (CEX) since the approval of the Ethereum spot Exchange-Traded Fund (ETF) by the Securities and Exchange Commission (SEC). The approval, which took place on May 23, led to a reduction of approximately 797,000 Ethereum coins, equivalent to about $30.2 billion, by June 2.
In addition, data from Glassnode indicates that the percentage of Ethereum's circulating supply held by CEX has reached its lowest level in many years, standing at just 10.6%. This suggests a shift in the dynamics of Ethereum holdings, with a possible increase in decentralized holdings following the SEC's approval of the Ethereum spot ETF. The data underscores the impact of regulatory decisions on the distribution and movement of cryptocurrencies.
