Short Ether Bets Ease as ProShares UltraShort Ether ETF Sees Notable Outflow
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The ProShares UltraShort Ether ETF, ETHD, logged a significant outflow of $1,445,238 on January 23, 2026, trimming bearish exposure in the leveraged short product. With current assets under management of $81,074,480, the latest redemption represents roughly 1.78% of the fund’s capital base—an unusually large single-day move for a niche Ethereum-linked strategy.
The outflow suggests some investors may be locking in profits or scaling back downside hedges after a difficult quarter for Ether. The related asset, ETH-USD, is currently trading around $2,905, having shed about 28.67% over the past three months. Despite that sharp decline, near-term market positioning remains cautious, with the 1-day technical signal flashing a bearish tone at Sell.
Flows out of ETHD can cut both ways in interpretation: on one hand, they may reflect waning conviction in further immediate downside for Ether; on the other, they could simply mark a risk-off reset among traders who had used the ETF to amplify short exposure during the recent slide. With Ether still under technical pressure, subsequent flow patterns into or out of short products like ETHD will be closely watched as a gauge of sentiment around whether the selloff has further to run or is nearing exhaustion.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.