Short Bitcoin Bets Lose Steam as ProShares’ SBIT Sees Outflow
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ProShares UltraShort Bitcoin ETF, SBIT, recorded net outflows of $2.68 million on March 23, 2026, trimming assets under management to roughly $196.3 million. The latest move represents about 1.37% of AUM, signaling a notable but not destabilizing reduction in bearish Bitcoin positioning among ETF investors.
The related asset, BTC-USD, is currently trading near $67,647.01 after a challenging quarter in which it has dropped about 18.63%. Despite that three-month slide, the 1-day technical signal on Bitcoin has flipped to a bullish tone, flashing Buy and hinting at short-term momentum that may be encouraging traders to scale back leveraged short exposure.
The outflow from SBIT suggests some investors are taking profits or reducing hedges as Bitcoin stabilizes following its recent drawdown. If the Buy signal proves durable, more capital could rotate out of inverse Bitcoin products and back into spot or long-oriented crypto vehicles, amplifying any recovery in the underlying asset’s price.
Yet with nearly $200 million still parked in SBIT, conviction in defensive positioning remains substantial, reflecting lingering macro and regulatory uncertainties around digital assets. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.