A prominent cryptocurrency investor has faced a significant financial setback after taking a short position in Ethereum, resulting in a substantial loss of over $42.6 million. On-chain data reveals that the investor sold 50,754 ETH at $1,754 on April 23, securing an initial profit of 89.03 million USDT. However, they failed to capitalize on subsequent price rises, ultimately leading to a loss of 16,452 ETH and reducing their Ethereum holdings from the original 35,754 to just 19,302. This resulted in a loss of over $42.6 million compared to current market values. Despite this setback, institutional interest in Ethereum remains robust, with US spot ETFs experiencing consistent net inflows for nine consecutive trading days, attracting nearly $486 million in capital.