U.S. spot Bitcoin exchange-traded funds recorded $430.2 million in net withdrawals on Thursday, with Fidelity and BlackRock leading the exits, as a technology-stock selloff spread into cryptocurrency markets. Data compiled by Farside Investors showed no fund in its daily table posting positive net flows for the session.

Fidelity's Wise Origin Bitcoin Fund (FBTC) posted $199.9 million in net outflows, while BlackRock's iShares Bitcoin Trust (IBIT) shed $105 million. Together, the two funds accounted for roughly 71% of the day's withdrawals.

Grayscale's GBTC lost another $49.9 million, and Franklin Templeton's EZBC shed $32.9 million. Several other funds reported no net movement.

BlackRock's Redemption Streak Reaches Five Sessions

Thursday's loss extended IBIT's redemption streak to five consecutive trading sessions dating back to October 30, bringing cumulative withdrawals over that stretch to roughly $1.04 billion. The fund also shed $201.2 million on Wednesday, even as the broader complex posted a modest $74.6 million net inflow that day.

The weekly picture was similarly heavy: net outflows this week have reached $869.8 million, following a $643.2 million outflow last Friday. Wednesday's small inflow had offered a brief reprieve before Thursday's reversal.

The next update to Farside's daily table will show whether IBIT's streak stretches to a sixth session and whether the complex's weekly outflows climb beyond the $869.8 million recorded so far this week.

Fidelity's swing was particularly sharp. FBTC attracted $236.7 million on Wednesday, then surrendered nearly $200 million the next session.

Convenience Cuts Both Ways

ETF flows have often been treated as a gauge of demand from investors accessing Bitcoin through regular brokerage accounts. The latest figures show that this access works in both directions: the same familiar wrapper that makes buying easy also makes exiting straightforward.

Because ETFs trade on stock exchanges, investors can adjust their Bitcoin exposure without transferring coins to a crypto wallet. That convenience can also make the funds an easy place to cut risk during an equity selloff.

Daily net flows measure creations minus redemptions of ETF shares at the fund level, not every trade between investors. As a result, the figures cannot show whether holders were raising cash to cover losses elsewhere, trimming Bitcoin exposure, or rebalancing portfolios.

Tech Selloff Weighs on Crypto

Thursday's redemptions arrived as the Nasdaq Composite plunged 5.5% and the S&P 500 fell about 4.4%. Chipmakers and data-center stocks led the decline as investors questioned the pace of artificial-intelligence spending and the possibility of new restrictions after the U.S. midterm elections.

Bitcoin also surrendered its post-election rebound, falling back toward $76,000 after trading above $80,000 on Wednesday. Short liquidations had helped power that rally, making the subsequent reversal more painful for leveraged traders.