Short-Side Stampede: ProShares UltraShort Ether ETF Sees Double-Digit Inflow as Ether Slides

Short Bets on Ether Swell as ProShares’ Inverse ETF Draws 11% of AUM in a Single Day

The ProShares UltraShort Ether ETF, ETHD, saw a sharp influx of capital on December 18, 2025, with fresh inflows of $12,321,672. The move is notable for a fund of its size, representing roughly 11.43% of its latest assets under management, which now stand at $107,797,797. Such a sizable one-day allocation suggests investors are increasingly positioning for further downside—or at least heightened volatility—in ether prices.

ETHD is designed to deliver inverse exposure to ether, meaning demand for the product often increases when sentiment toward the underlying cryptocurrency turns cautious. The latest flow spike, therefore, can be read as a barometer of rising bearish hedging or speculative short interest in the ether market, coinciding with a period of pronounced weakness in the token itself.

The related asset, ETH-USD, is currently trading at $3,005.02, having shed about 31% over the past three months. That drawdown reflects a broader cooling in crypto risk appetite after earlier rallies, with traders reassessing valuation and regulatory risks. Short-term technicals echo the cautious tone, with the one-day signal flashing Sell, reinforcing the narrative that momentum remains tilted to the downside for now.

For investors, the sudden jump in ETHD flows highlights a mounting divergence between long-term optimism around Ethereum’s ecosystem and near-term positioning that leans defensive. Whether the latest wave into ETHD marks the start of a more persistent bearish trade or a tactical hedge will likely hinge on how ether responds to upcoming macro data, liquidity conditions, and regulatory headlines in the weeks ahead.

For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.