Significant Decrease in Bitcoin Holdings by ETFs, Fidelity, and Grayscale

According to @lookonchain, on June 25, nine ETFs reduced their Bitcoin holdings by 2,145 BTC, equivalent to a decrease of $132.54 million. Fidelity reduced its Bitcoin holdings by 612 BTC, equating to $37.83 million, and now holds a total of 166,763 BTC valued at $10.3 billion. Grayscale decreased its Bitcoin holdings by 567 BTC, amounting to $35.05 million, and currently holds 277,935 BTC worth $17.17 billion. These reductions in holdings may indicate a bearish sentiment among institutional investors.