Fresh Capital Flows into Leveraged Ether Fund as ETH Prices Slide

Investors have continued to bet on a recovery in the price of Ethereum, with ProShares' Ultra Ether ETF (ETHT) drawing in $1.4 million in new capital on February 23.

This influx of fresh funds has pushed the fund's assets under management to $190 million, despite the current bearish sentiment in crypto markets.

The related asset, ETH-USD, is currently trading at $1,914.60 after a three-month slide of around 37%, with short-term sentiment remaining fragile.

However, some investors appear to be using ETHT as a way to scale exposure into weakness, effectively betting that current levels will mark a medium-term entry point for Ethereum's price rebound.