Short Bitcoin Bets Lose Steam as ProShares UltraShort Sees Fresh Outflows
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ProShares’ inverse crypto vehicle, the UltraShort Bitcoin ETF, SBIT, recorded outflows of $3.44 million on April 20, 2026, trimming its bearish war chest. The latest redemption equals roughly 1.87% of its $183.65 million in assets under management, signaling a notable pullback from investors who had been positioning for further downside in Bitcoin.
The related asset, BTC-USD, is currently trading at $78,058.58 after a choppy quarter in which it shed about 13.3% over the past three months. Yet, the coin’s 1-day technical signal has flipped to Buy, suggesting that near-term momentum traders see scope for a rebound, a shift that likely underpins waning appetite for leveraged short exposure via SBIT.
Outflows of this size, while modest relative to total assets, may hint that some hedged investors are locking in gains or reducing conviction on a prolonged downturn in the flagship cryptocurrency. With Bitcoin still well off recent peaks but flashing short-term buy signals, positioning in inverse products like SBIT could remain fluid as traders weigh macro risks against renewed risk-on sentiment in digital assets.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.