Short Bitcoin Bets Unwind as ProShares’ SBIT Sees Massive One-Day Outflow
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
The ProShares UltraShort Bitcoin ETF, SBIT, recorded a sharp outflow of $95.24 million on February 06, 2026, effectively shrinking its base overnight. With assets under management now at $160.87 million, the latest redemption wave represents roughly 59.2% of the fund’s AUM, a scale that suggests investors are rapidly exiting leveraged bearish Bitcoin positions.
The related asset, BTC-USD, is currently trading at $69,535.30 after a bruising three months in which it has dropped about 35%. Despite that drawdown, its 1-day technical signal sits at Sell, indicating that short-term indicators still point to downside pressure even as ETF investors appear reluctant to maintain leveraged short exposure.
The combination of fading interest in ultra-short products and lingering bearish technicals on Bitcoin underscores growing uncertainty over the next leg of crypto’s cycle. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.