Short Ether Bets Unwind as ProShares UltraShort ETF Sees Sharp Outflows
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The ProShares UltraShort Ether ETF, ETHD, recorded a notable investor exodus on January 27, 2026, with outflows of $4,446,945. The move shaved roughly 5.48% off the fund’s latest reported assets under management, which now stand at $81,177,993. The scale of the withdrawal suggests a meaningful shift in positioning among traders using the leveraged inverse vehicle to bet against Ether.
The related asset, ETH-USD, is currently trading at $2,937.58, having slumped about 25.03% over the past three months. Despite that sizeable drawdown, the 1-day technical signal for Ether remains tilted to the downside, flashing a cautious Sell. The combination of persistent bearish technicals and fresh outflows from a short-focused ETF hints that some traders may be locking in gains on prior downside moves rather than doubling down on further declines.
Such behavior is consistent with late-stage phases of a selloff, when bearish conviction begins to waver even as indicators stay weak. AUM erosion at ETHD may therefore reflect a more nuanced sentiment shift: not outright bullishness on Ether, but a reluctance to maintain aggressive leveraged short exposure after a steep three-month slide. How spot prices react in coming sessions will be key to determining whether this is a pause in the downtrend or the first sign of short-covering support.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.