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#Will ETH follow Bitcoin price trajectory upon its ETF trading available?
Ethereum spot ETF's footsteps approaching, many institutions and whales are also buying and hoarding ETH.
After the SEC approved the 19b-4 application for Ethereum spot ETF on May 23rd, the Ethereum reserves of centralized exchanges decreased by 797,000 units, with a value of approximately $30.2 billion, between May 23rd and June 2nd. The decrease in exchange reserves indicates a decrease in the amount of sellable tokens.
The circulating supply of ETH held by the Central Exchange has reached its lowest level in years, currently only 10.6%, it is expected that the price of ETH will likely rise due to the decrease in sellable ETH supply.
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