Short Bitcoin Bets Build as ProShares’ SBIT Sees Fresh Inflows
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ProShares’ ProShares UltraShort Bitcoin ETF, SBIT, drew $8.99 million of net inflows on April 02, 2026, signaling renewed conviction among traders wagering against the largest cryptocurrency. The move lifts the fund’s assets under management to $216.9 million, with the latest flow equal to roughly 4.1% of AUM, a notably chunky single-day allocation.
The related asset, BTC-USD, is currently trading at $69,728.47 after a bruising quarter, down about 27.6% over the past three months. Despite that drawdown, short-side sentiment remains firm, with the one-day technical signal flashing Sell, suggesting traders expect further weakness or at least persistent volatility.
The combination of heavy inflows into an inverse product and a negative near-term technical backdrop underscores how quickly risk appetite can turn in crypto-linked ETFs. For some investors, SBIT is emerging as both a directional bearish bet and a tactical hedge after Bitcoin’s latest slide, potentially amplifying short-term swings as positioning becomes more crowded.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.