*Crypto exchanges see $3B Ethereum exit since ETF approvals*

Over $3 billion worth of Ether ETH($3,822) has been removed from centralized crypto exchanges since the May 23 approval of spot Ether exchange-traded funds (ETFs) in the United States — signaling a potential upcoming supply squeeze.

The amount of Ether on exchanges fell by around 797,000 between May 23 and June 2 — equivalent to $3.02 billion, according to CryptoQuant data.

Lower exchange reserves imply fewer coins are available for sale as investors move their own coins to self-custody for purposes other than immediate selling