CryptoQuant disclosed on X platform that the listing of Bitcoin spot ETF caused the Bitcoin reserves of Coinbase exchange to rapidly decline since February. Data shows that on February 18, 2024, Coinbase's Bitcoin reserves were about 1,044,997 BTC, but now this indicator has decreased to 878,000 BTC, a decrease of about 167,000 BTC.
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The listing of spot ETFs has caused Coinbase's Bitcoin reserves to decline rapidly since February
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