Short Ether Bets Lose Steam as ProShares SETH Sees One of Its Sharpest Outflows
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The ProShares Short Ether Strategy ETF, SETH, recorded a notable reversal in investor positioning on December 26, 2025, with outflows of $847,960. The move stripped roughly 7.62% from the fund’s latest reported assets under management of $11.13 million, signaling that a meaningful slice of investors is stepping back from bearish Ether exposure.
Such a sizable redemption, relative to AUM, suggests growing skepticism that further near-term downside in Ether will be easy to capture via short strategies. After a steep pullback in the underlying crypto asset over the past quarter, some traders appear to be locking in gains or reducing risk rather than pressing the short trade.
The related asset, ETH-USD, is currently trading around $2,969.96, down roughly 30.07% over the past three months. Despite that drawdown, near-term momentum looks more balanced: the 1-day technical signal stands at Hold, reflecting a market that is reassessing whether the recent weakness has run its course or merely paused.
For short Ether products like SETH, the combination of heavy recent price declines in Ether and a neutral technical backdrop may be prompting investors to reassess how much downside is left to capture—and whether it is time to move to the sidelines or pivot back toward long exposure.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.