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Glassnode: $9.5 Billion Worth of BTC Withdrawn From Major Exchanges After Spot Bitcoin ETF Approval

Mary Liu

Summary: Data from on-chain analytics firm Glassnode shows that the spot Bitcoin ETF has been trading for less than three months, but during that time, approximately $9.5 billion worth of BTC has been withdrawn from major trading platforms.  On March 27 alone, the amount of Bitcoin withdrawn from exchanges totaled more than 22,000 BTC ($1.54 billion), ...

Data from on-chain analytics firm Glassnode shows that the spot Bitcoin ETF has been trading for less than three months, but during that time, approximately $9.5 billion worth of BTC has been withdrawn from major trading platforms. 

On March 27 alone, the amount of Bitcoin withdrawn from exchanges totaled more than 22,000 BTC ($1.54 billion), marking the third-largest single-day withdrawal total of 2024.

As of March 28, Coinbase held a total of 2,320,458 BTC, the lowest balance since April 2018.

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