Short Ether Bears Blink as ProShares’ ETHD Sees Notable Outflows
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ProShares’ ProShares UltraShort Ether ETF, ETHD, recorded net outflows of $1,445,238 on January 23, 2026, trimming its bearish exposure to Ethereum just as the underlying token struggles. With assets under management now standing at roughly $81.07 million, the latest redemption represents about 1.78% of the fund’s AUM, a meaningful pullback in investor capital for a leveraged short product.
The related asset, ETH-USD, is currently trading at $2,931.63 and has shed about 25.26% over the past three months, underscoring a sustained downturn in ether prices. Despite this persistent weakness, the near-term technical backdrop remains cautious, with a one-day signal flashing Sell, suggesting momentum traders still see room for further downside.
The juxtaposition of ETHD outflows with a negative short-term technical signal on ether highlights a potential shift in positioning: some investors may be taking profits or reducing risk in leveraged bearish vehicles even as the broader market stays under pressure. In a volatile crypto environment where sentiment can turn quickly, the move out of ETHD could indicate that a portion of the market is less confident in the longevity of the current downtrend—or is simply de-leveraging ahead of the next major catalyst.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.