Short Ether Bets Lose Steam as ProShares SETH Sees Nearly 9% of Assets Exit in a Day
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The ProShares Short Ether Strategy ETF, SETH, recorded significant outflows on January 16, 2026, with $752,596 leaving the fund. The move dents its latest assets under management, now at $8,371,125, and means roughly 8.99% of SETH’s capital base walked out the door in a single session.
The sharp redemption suggests a notable shift in sentiment toward Ether downside exposure. As a short Ether vehicle, SETH’s flows often mirror investors’ conviction about further declines in the price of the world’s second-largest cryptocurrency. A withdrawal of nearly a tenth of AUM in one day implies that some traders may be locking in gains on prior bearish bets or reassessing the risk-reward profile of staying short after a prolonged slide.
The related asset, ETH-USD, is currently trading at $3,089.84. Over the past three months, Ether has fallen about 19.40%, a drawdown that has previously supported demand for short exposure products like SETH. Yet, despite this sizable decline, the 1-day technical picture still points to pressure, with a prevailing Sell signal suggesting momentum remains fragile in the near term.
The combination of weak short-term technicals in Ether and sizable outflows from a short Ether ETF underscores a more nuanced market backdrop: traders may be less confident in adding fresh bearish positions at current levels, even as charts fail to confirm a decisive rebound. That tension could set the stage for heightened volatility if fundamentals or macro risk appetite shift.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.