Short Bitcoin Bets Lose Steam as ProShares’ SBIT Sees Fresh Outflows
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ProShares UltraShort Bitcoin ETF, ticker SBIT, recorded outflows of $2,683,485 on March 23, 2026, trimming exposure in the bearish product. With assets under management now at roughly $196.3 million, the latest redemption represents about 1.37% of the fund’s capital, signaling a notable but not destabilizing vote of caution on leveraged downside plays.
The related asset, BTC-USD, is currently trading around $69,522.99 after a bruising three months that left it down about 18.32%. Despite that pullback, the 1-day technical signal for Bitcoin has flipped to Buy, hinting that some traders may be rotating away from ultra-short exposure in anticipation of a near-term rebound.
SBIT’s latest moves underscore how swiftly sentiment can pivot in leveraged crypto products, where flows often serve as a high-frequency gauge of market conviction. If Bitcoin sustains its short-term technical strength, further outflows from bearish ETFs could follow as investors reassess the risk-reward of staying short after an already sharp drawdown.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.