ETF 批准後，超過 30 億美元的以太幣從交易所撤回，表明潛在的供應緊張

自 5 月 23 日美國批准現貨以太幣交易所交易基金 (ETF) 以來，價值超過 30 億美元的以太幣已從市場中撤出。

Following the approval of spot Ether exchange-traded funds (ETFs) in the United States on May 23, over $3 billion in Ether has exited centralized cryptocurrency exchanges, signaling a potential impending supply squeeze.

繼 5 月 23 日美國批准現貨以太幣交易所交易基金 (ETF) 後，超過 30 億美元的以太幣已退出中心化加密貨幣交易所，這表明潛在的供應緊張即將到來。

According to data from CryptoQuant (via Cointelegraph), around 797,000 Ether were withdrawn from exchanges over May 23-June 2, equating to $3.02 billion.

根據 CryptoQuant（透過 Cointelegraph）的數據，5 月 23 日至 6 月 2 日期間，大約有 797,000 個以太幣從交易所被撤回，相當於 30.2 億美元。

This exchange outflow signifies a diminished quantity of coins available for purchase as investors proceed to移出 their coins from exchanges to self-custody for purposes beyond immediate trade.

這種交易所外流意味著可購買的代幣數量減少，因為投資者繼續將其代幣從交易所轉移到自我託管，以用於直接交易以外的目的。

Highlighting the significance of this exchange outflow, BTC-ECHO analyst Leon Waidmann, using Glassnode data, reported that the proportion of circulating Ether supply on exchanges has also dropped to its lowest levels in years, at a mere 10.6%.

BTC-ECHO 分析師 Leon Waidmann 利用 Glassnode 數據報告稱，交易所流通的以太幣供應量比例也降至多年來的最低水平，僅為 10.6%，凸顯了此次交易所流出的重要性。

Meanwhile, as reported by Bloomberg ETF analyst Eric Balchunas on May 30, Ether ETFs are now anticipated to launch by late June, with some analysts expressing optimism.

同時，根據彭博 ETF 分析師 Eric Balchunas 5 月 30 日報道，以太坊 ETF 目前預計將在 6 月底推出，一些分析師對此表示樂觀。

Due to heightened demand pressure, analysts anticipate that Ether may surpass its all-time high of $4,870 from November 2021 once spot Ether ETFs begin trading, in a scenario comparable to Bitcoin following the January launch of spot Bitcoin ETFs.

由於需求壓力加大，分析師預計，一旦現貨以太坊ETF 開始交易，以太坊可能會從2021 年11 月起突破4,870 美元的歷史高點，這與1 月份推出現貨比特幣ETF 後的比特幣情況類似。

Highlighting Ether's Favorable Demand Dynamics, a May 28 report by DeFi crypto analyst Michael Nadeau suggests that Ether may be facing greater demand pressures than Bitcoin due to the absence of comparable “structural sell pressure.”

DeFi 加密貨幣分析師 Michael Nadeau 5 月 28 日的一份報告強調了以太坊的有利需求動態，表明由於缺乏類似的“結構性拋售壓力”，以太坊可能面臨比比特幣更大的需求壓力。

This demand pressure is attributed to the fact that, unlike Bitcoin miners who may need to sell BTC to cover mining costs, Ethereum validators do not incur substantial operating expenses.

這種需求壓力歸因於這樣一個事實：與可能需要出售 BTC 來支付挖礦成本的比特幣礦工不同，以太坊驗證器不會產生大量營運費用。

However, concerns remain regarding the potential impact of Grayscale's Ethereum Trust (ETHE), which holds over $11 billion in assets, on the price movement of Ether. This arises from the possibility of Grayscale distributing funds in a manner that mirrors the $6.5 billion disbursement during the first month following its approval, as was the case with the Grayscale Bitcoin Trust (GBTC) (CoinDesk).

然而，人們仍然擔心灰階的以太坊信託（ETHE）對以太坊價格走勢的潛在影響，該信託持有超過 110 億美元的資產。這是因為灰階可能會以類似於獲得批准後第一個月內 65 億美元支出的方式分配資金，就像灰階比特幣信託 (GBTC) (CoinDesk) 的情況一樣。

At the time of writing, Ether is trading at $3,781, down 0.82% over the past 24 hours and roughly 23% from its all-time high, according to CoinMarketCap.

根據 CoinMarketCap 的數據，截至撰寫本文時，以太幣交易價格為 3,781 美元，在過去 24 小時內下跌 0.82%，較歷史高點下跌約 23%。