Leveraged Ether Traders Tap the Brakes as ProShares’ ETHT Fund Sees $7.3M Outflow

Ether Bulls Hit the Brakes as ProShares Ultra Ether ETF Sees Meaningful Outflows

The ProShares Ultra Ether ETF, ETHT, recorded net outflows of $7.35 million on December 19, 2025, a sizeable move that equates to roughly 2.41% of its $305.2 million in assets under management (AUM). While not a stampede to the exits, the withdrawal suggests a cautious turn among leveraged Ether traders after a volatile quarter.

The latest flow comes against a challenging backdrop for the fund’s underlying asset, ETH-USD. Ether is currently trading around $3,005.02, having shed about 31% over the past three months. The short-term technical picture remains fragile as well, with a 1-day signal flashing Sell, underscoring near-term downside pressure.

For ETHT, which seeks to deliver leveraged exposure to Ether’s daily moves, such a combination of steep recent losses and bearish technicals often prompts traders to trim risk and lock in what capital they can. The recent outflow, in that context, looks less like a broad repudiation of Ether and more like a risk-management exercise by tactical investors who had previously amplified their exposure through the ETF.

Still, a single day’s flows are only part of the story. With more than $300 million in AUM remaining, ETHT continues to be a key vehicle for speculative and hedging activity in the Ether market. If Ether stabilizes or stages a sharp rebound, the same leverage that now looks painful could draw capital back into the fund just as quickly.

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