Short Sellers Lean Into Ether Slump as ProShares UltraShort ETF Draws Fresh Cash
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The ProShares UltraShort Ether ETF, ETHD, saw a notable uptick in interest on January 15, 2026, as investors added $1,114,590 in new capital to the bearish vehicle. The latest flow represents roughly 1.59% of the fund’s $70.21 million in assets under management, a meaningful move that suggests traders are increasingly positioning for further weakness—or at least continued turbulence—in the price of Ether.
This influx into ETHD comes against a challenging backdrop for its underlying asset. The related asset, ETH-USD, is currently trading at $3,205.18 and has fallen about 17.12% over the past three months. Despite that slide, its 1-day technical signal is flashing a cautious Hold, reflecting a market that is consolidating rather than capitulating.
The renewed demand for an ultrashort Ether product underscores how macro uncertainty and crypto-specific regulatory and liquidity concerns are driving sophisticated investors to hedge directional risk rather than exit the market altogether. With flows into ETHD climbing even as Ether stabilizes around the $3,200 level, the balance between short-term downside protection and long-term conviction in the Ethereum ecosystem remains a central tension for digital-asset traders.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.