$3 trillion tech wipeout spills into crypto as bitcoin and ether ETFs see $530 million in outflows

A brutal selloff in U.S. technology stocks erased roughly $3 trillion in market value and quickly spilled over into digital assets. In the wake of the rout, exchange‑traded funds holding bitcoin and ether registered about $530 million in net outflows in a single day, underscoring how closely crypto now trades with mainstream risk assets.

Data compiled from U.S. listings show Fidelity’s spot bitcoin ETF, FBTC, led the withdrawals, with redemptions sharply outpacing subscriptions. The move extends a wave of outflows that began in late October, as investors trimmed exposure to both high‑growth tech and crypto following the U.S. midterm elections and mounting questions over the sustainability of massive AI‑related capital spending.

While bitcoin and ether prices have so far avoided a full‑blown crash, persistent ETF redemptions could thin liquidity and amplify future volatility. For institutional investors who primarily access crypto through listed funds, daily flow data are becoming a key sentiment gauge—and a potential early warning signal for broader stress across digital‑asset markets.