Short Bitcoin Bears Blink as ProShares UltraShort ETF Sees Outflows
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ProShares’ inverse crypto vehicle, the UltraShort Bitcoin ETF, saw fresh pressure on Wednesday as investors pulled $1.27 million from the SBIT fund on April 24, 2026. The redemption represents roughly 0.71% of its $179.7 million in assets under management, hinting at waning conviction in leveraged downside bets against the world’s largest cryptocurrency.
The related asset, BTC-USD, is currently trading at $77,660.01 after a choppy three months that left prices down about 6.25%. Yet the coin’s short-term tone has brightened, with a 1-day technical signal now flashing Buy, a move that may be encouraging traders to unwind aggressive short exposure.
Outflows from SBIT suggest that some speculators are locking in gains or cutting losses after Bitcoin’s recent consolidation, rather than doubling down on fresh volatility. With BTC still near historically elevated levels despite its three-month pullback, the shrinking size of this bearish ETF could signal that the market expects any further downside to be limited or short-lived.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.