After the listing of spot ETFs, Coinbase exchange bitcoin reserves have declined rapidly since February

CryptoQuant disclosed on the X platform that the bitcoin spot ETF listing caused the Coinbase exchange bitcoin reserve to decline rapidly since February, data show that Coinbase's bitcoin reserve was about 1,044,997 BTC on February 18, 2024, but now this indicator has been reduced to 878,000, a decrease of about 167,000 bitcoins.