Short Ether Bets Lose Steam as ProShares SETH Logs Near-9% Outflow in a Day
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The ProShares Short Ether Strategy ETF, SETH, saw investors pull $752,596 on January 16, 2026, a sizable one-day outflow that amounts to roughly 8.99% of its latest reported assets under management of $8.37 million. The move suggests a notable shift in positioning among traders who had been using the fund to bet against Ether’s price.
SETH, designed to deliver inverse exposure to Ether futures, has attracted attention as a tactical hedge during periods of crypto volatility. A near-9% dent in AUM in a single session indicates either profit-taking on prior bearish positions or waning conviction that Ethereum’s downside momentum will persist, especially after a choppy quarter for the underlying asset.
The related asset, ETH-USD, is currently trading around $3,205.18. Over the past three months, Ether has shed about 17.12%, a decline that previously bolstered demand for short-oriented products like SETH. However, the latest one-day technical reading on ETH screens as a cautious Hold, hinting that near-term direction is unclear and prompting some traders to scale back aggressive bearish wagers.
The combination of substantial outflows from SETH and a neutral technical stance on Ether suggests the market may be transitioning from outright pessimism toward a wait-and-see posture, as investors reassess whether recent weakness in Ethereum marks a deeper downtrend or a consolidation phase.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.