Traders Turn Against Ether Bear Play as Cash Flees ProShares UltraShort ETF
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The ProShares UltraShort Ether ETF, ETHD, saw a sharp reversal in sentiment on January 30, 2026, as investors pulled $3.64 million from the short-Ether vehicle. The outflow amounts to roughly 4.37% of the fund’s $83.44 million in assets under management (AUM), a sizable single-day move that suggests some traders are stepping back from leveraged bearish bets on Ether.
Such a withdrawal is notable given the fund’s mandate to deliver inverse exposure to Ether’s price. A pullback of this magnitude may indicate that a segment of the market either sees limited short-term downside left in Ether or is simply de-risking after a volatile stretch. With more than four percent of the fund’s capital exiting in one session, liquidity dynamics and positioning in ETHD could become more sensitive to further shifts in sentiment.
The related asset, ETH-USD, is currently trading at $2,428.98, having shed about 30.63% over the past three months. Despite that steep decline, the 1-day technical outlook still screens negative, flashing a Sell signal, underscoring persistent pressure on the second-largest cryptocurrency by market capitalization.
For ETF investors, the combination of heavy outflows from a leveraged short product and ongoing weakness in the underlying asset creates a nuanced picture: some may be locking in gains from prior downside, while others could be bracing for further volatility. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.