Traders Double Down on Ether Downside as ProShares’ SETH Attracts Big Short-Side Inflows

Short Ether Bets Heat Up as ProShares’ SETH Draws Fresh Cash Influx

The ProShares Short Ether Strategy ETF, SETH, saw a notable wave of fresh capital on January 29, 2026, with $814,260 in net inflows, according to the latest fund data. The move lifts the fund’s assets under management to $13,165,600, with the single-day flow representing roughly 6.19% of total AUM—an unusually large swing that underscores growing investor interest in leveraged downside exposure to Ether.

Such a sizable intake relative to the fund’s size suggests investors are either hedging existing long Ether positions or speculating on further weakness in the underlying cryptocurrency. The timing is particularly striking given Ether’s recent slump: the related asset, ETH-USD, is currently trading at $2,428.98, down about 30.63% over the past three months. Short-tilted products like SETH tend to attract attention when volatility rises and sentiment turns cautious, and the latest flows imply traders are positioning for continued downside—or at least bracing against it.

Technically, Ether’s near-term picture remains fragile. The 1-day signal on ETH-USD screens as a bearish cue, with a current reading of Sell, reinforcing the narrative that momentum has yet to meaningfully reverse despite pockets of relief rallies. While long-term crypto believers may view current levels as a buying opportunity, the pronounced shift into SETH shows that a significant cohort of market participants is not ready to rule out further pressure on Ether prices.

For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.