Short Sellers Double Down: ProShares UltraShort Bitcoin ETF Sees Surge of Fresh Bearish Bets
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The ProShares UltraShort Bitcoin ETF, ticker SBIT, drew a substantial wave of new capital on January 23, 2026, as investors funneled $11,092,005 into the leveraged bearish vehicle. The inflow represents roughly 8.33% of the fund’s latest assets under management, which now stand at $133.18 million, signaling a decisive move by traders looking to profit from—or hedge against—further weakness in Bitcoin.
The scale of the single-day flow is notable for a niche, inverse product, suggesting that a meaningful cohort of market participants is positioning for continued downside in the world’s largest cryptocurrency. Such a sizable addition relative to AUM often reflects either growing conviction in the prevailing trend or an expectation of heightened volatility ahead.
The related asset, BTC-USD, is currently trading at $87,786.01, having shed about 22.11% over the past three months. That multi-month slide has eroded a portion of the prior bull market’s gains and appears to be reinforcing bearish sentiment: the coin’s 1-day technical setup is flashing a cautious tone, with a signal of Sell.
For traders, the combination of a sharp recent drawdown in Bitcoin’s price and robust inflows into a leveraged short ETF like SBIT underscores a market increasingly split between longer-term believers in the asset and short-term players betting that the correction has room to run. Whether this surge in hedging and speculation marks the middle of a broader downtrend or a contrarian bottom will likely hinge on incoming macro data, liquidity conditions, and regulatory headlines around digital assets.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.