Traders Double Down on Ether Downside as ProShares’ SETH Pulls in Big Short-Side Inflow

Bearish Bets on Ether Swell as ProShares Short ETF Sees Double-Digit Inflow

The ProShares Short Ether Strategy ETF, SETH, drew a notable wave of fresh capital on January 22, 2026, with $1,622,164 in new inflows. That single-day move represents roughly 13.7% of the fund’s latest reported assets under management, which now stand at $11,802,902, underscoring a sharp pickup in demand for downside exposure to Ether.

The scale of the flow relative to SETH’s size highlights how quickly sentiment can pivot in crypto derivatives products. A double-digit percentage move in AUM in one session suggests that either new entrants are seeking tactical protection against further declines in Ether, or existing crypto investors are layering on hedges as volatility persists. For a short-focused vehicle, such inflows are often read as a barometer of growing skepticism or caution in the underlying asset.

The related asset, ETH-USD, is currently trading around $3,011.22, having fallen about 26.2% over the past three months. The recent slide has chipped away at what had been a strong rebound earlier in the cycle, and a tightening macro backdrop and regulatory uncertainty continue to feed into risk-off sentiment across digital assets. Adding to the cautious tone, the one-day technical signal on Ether screens as a Sell, reinforcing the narrative that traders are bracing for further near-term pressure.

With Ether underperforming and technicals flashing warning signs, the pronounced inflow into SETH may signal that more sophisticated market participants are positioning for continued downside or at least a choppy trading range ahead. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.