Short Ether bears blinked this week as ProShares UltraShort Ether ETF ETHD saw $5.62 million in outflows on February 13, 2026, draining roughly 7.4% of its $76.37 million in assets under management. The sizable redemption suggests a notable cohort of traders is stepping back from leveraged downside exposure to Ether after a bruising stretch for the token.
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The related asset, ETH-USD, is currently trading at $1,961.90, having slumped about 35.2% over the past three months. Despite that drawdown, its 1-day technical signal remains a cautious Strong Sell, underscoring lingering downside momentum that may be prompting profit-taking or risk reduction among short-focused ETF holders.
The flow reversal into ETHD highlights how sentiment can diverge between spot price action and positioning in leveraged inverse products. Some investors may be locking in gains from the recent Ether slide, while others could be anticipating a volatility spike that makes concentrated short bets less attractive in the near term.
More broadly, the move fits a pattern of tactical repositioning as crypto markets reassess macro and regulatory risks heading into the spring. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.