Leverage Cuts Both Ways: ProShares’ Bearish Ether ETF Sees Double-Digit Inflow as Traders Double Down
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The ProShares UltraShort Ether ETF, ETHD, attracted fresh capital inflows of $12,321,672 on December 18, 2025, a sizeable bet against Ether that amounts to roughly 11.7% of the fund’s current assets under management. ETHD now oversees $104,898,314, with the latest flow marking a notable repositioning by traders seeking amplified downside exposure to the world’s second-largest cryptocurrency.
The related asset, ETH-USD, is currently trading around $2,981.73, down approximately 33.3% over the past three months. Despite this steep pullback, the short-term technical backdrop remains weak, with a 1-day signal flashing Sell. That combination of sustained downside pressure and still-bearish momentum appears to be encouraging tactical traders to lean further into leveraged inverse exposure via ETHD, either as a hedge on spot holdings or as a directional short.
The magnitude of the single-day inflow relative to ETHD’s overall size underlines how quickly sentiment in the Ether derivatives ecosystem can swing, particularly around leveraged vehicles designed for short-term trading rather than long-term holding. With Ether already under pressure and technicals failing to confirm a near-term rebound, the new capital flowing into ETHD suggests that a segment of the market expects volatility—and weakness in Ether—to persist.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.