Glassnode: About $9.5 Billion Worth of BTC Has Now Been Pulled From Major Exchanges Since Bitcoin ETF Approval

It's been less than three months since the U.S. spot bitcoin ETF was traded, but in that time, about $9.5 billion worth of BTC has been withdrawn from major trading platforms, according to data from on-chain analytics firm Glassnode. On March 27 alone, more than 22,000 BTC ($1.54 billion) of bitcoin was raised from exchanges, roughly the third-largest single-day withdrawal in 2024.1 The withdrawal of bitcoin from exchanges was the third-largest single-day withdrawal in the world, according to Glassnode.