Short Bitcoin Traders Hit the Exit as ProShares UltraShort ETF Sees Heavy Redemptions
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The ProShares UltraShort Bitcoin ETF, SBIT, recorded substantial outflows of $6.9 million on January 30, 2026, as bearish investors pared back leveraged short exposure to the crypto market. The latest redemption represents roughly 5.0% of the fund’s $136.7 million in assets under management (AUM), a meaningful pullback that suggests growing caution among traders who had been betting on further downside in Bitcoin.
The related asset, BTC-USD, is currently trading at $77,564, down about 27% over the past three months. Despite that sizeable decline, the coin’s short-term trading picture remains fragile, with a 1-day technical signal flashing Sell. The combination of recent price weakness and a still-bearish technical setup may be prompting some leveraged short players to lock in gains or de-risk, fueling the outflow from SBIT.
In effect, the withdrawals from this inverse, leveraged product hint that at least part of the market believes the sharp drawdown in Bitcoin may be entering a more uncertain phase—where the risk of abrupt rallies is rising even as momentum indicators remain negative. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.