Live updates: BlackRock's IBIT drives $236 million bitcoin ETF outflow

JUST IN: BlackRock's IBIT leads a $236 million outflow from US spot bitcoin ETFs, as $BTC slips to $76,800.

The biggest bitcoin fund on Wall Street just led the exit. BlackRock's IBIT is at the front of a two hundred and thirty six million dollar outflow from US spot bitcoin ETFs, and bitcoin itself has slipped to seventy six thousand eight hundred dollars.

That detail matters. IBIT was the machine that hoovered up billions when these funds launched, the poster child for institutions finally believing in crypto. You can see the operation behind it here, BlackRock, the largest asset manager on earth. When that fund flips to selling pressure, it's not retail panic, it's the suits quietly stepping back.

And this isn't happening in a vacuum. Stocks are wobbling, bond yields are screaming, and the theory that bitcoin trades like digital gold in a storm is getting tested in real time. So far, it's trading like a tech stock with a caffeine problem.

The hardest fact tonight is simple. The institutions that carried bitcoin up are, for now, the ones walking it back down.

This is Sara White, reporting for HIT.