Ether Bulls Step Back as ProShares Ultra Ether ETF Sees Nearly $9.3 Million Walk Out the Door
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ProShares’ leveraged crypto vehicle, the ProShares Ultra Ether ETF, saw a notable pullback this week as ETHT recorded outflows of $9,250,700 on January 29, 2026. The redemption represents roughly 2.97% of the fund’s latest reported assets under management, which stand at $311.56 million, signaling a meaningful but not destabilizing shift in investor positioning.
The move comes against a challenging backdrop for its underlying asset, Ether. The related asset, ETH-USD, is currently trading around $2,644.68, down about 30.28% over the past three months—a decline that has tested the conviction of leveraged long-ether traders. Short-term sentiment is similarly cautious, with the 1-day technical outlook flashing a Sell signal.
Outflows of this scale suggest that a segment of the market is de-risking exposure to amplified ether price moves after an extended drawdown. Leveraged ETFs like ETHT tend to attract more tactical traders, and the combination of a sharp three-month slump and bearish technicals may be prompting profit-taking on earlier rallies or forced unwinding of leveraged bets. Still, with nearly $312 million in AUM, the fund retains substantial scale, implying that core speculative interest in ether’s upside remains intact even as short-term flows turn negative.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.