Short Sellers Double Down: ProShares UltraShort Bitcoin ETF Sees Fresh Inflows as BTC Slides
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The ProShares UltraShort Bitcoin ETF, SBIT, drew $4.04 million in new money on January 22, 2026, marking a notable bet on further downside in the crypto market. The inverse Bitcoin vehicle now oversees roughly $119.996 million in assets under management (AUM), with the latest flow representing about 3.36% of its total size—an unusually large single-day swing for a niche, leveraged product.
The magnitude of the inflow suggests that traders are increasingly positioning for continued weakness in Bitcoin rather than a near-term rebound. As a leveraged inverse ETF, SBIT is designed to profit from declines in Bitcoin prices, so rising inflows typically signal growing bearish sentiment or hedging activity among sophisticated market participants.
The related asset, BTC-USD, is currently trading around $89,457.73, leaving the world’s largest cryptocurrency down roughly 19.33% over the past three months. The short-term technical picture looks equally grim, with a 1-day signal flashing Strong Sell, reinforcing the idea that momentum traders are still steering away from risk rather than attempting to buy the dip.
The combination of sliding spot prices, bearish technicals and rising assets in a short-Bitcoin ETF underscores how cautious investors have become after Bitcoin’s recent drawdown. Whether this marks the late stages of capitulation or the beginning of a more protracted downturn will depend on macro risk appetite and regulatory headlines in the coming weeks, but SBIT’s latest flows show that, for now, the safer trade is still being perceived as betting against the coin rather than on it.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.