--- title: "Leveraged Single-Stock ETF Closures Went From 3 To 63 In A Year As Money Piles Into Nvidia Bets" type: "News" locale: "en" url: "https://longbridge.com/en/news/296949623.md" description: "Leveraged single-stock ETFs are undergoing a shakeout in 2026, with 63 closures compared to just three in 2025. While 244 new funds launched, average assets per fund dropped significantly to $63.3 million. Assets are concentrating in winners like the Nvidia-focused NVDL and semiconductor ETFs SOXL/SOXS. Smaller, newer products face sustainability risks due to low AUM and volatility, creating a 'winner-take-most' market where liquidity and underlying trends determine survival." datetime: "2026-08-25T19:14:59.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296949623.md) - [en](https://longbridge.com/en/news/296949623.md) - [zh-HK](https://longbridge.com/zh-HK/news/296949623.md) generator: "portal-rs" --- # Leveraged Single-Stock ETF Closures Went From 3 To 63 In A Year As Money Piles Into Nvidia Bets The leveraged single-stock ETF boom is showing signs of a shakeout, with a flood of new products colliding with shrinking average fund sizes and a surge in closures. By mid-August, **244 leveraged ETFs** had launched in the U.S., already surpassing the **229 introduced during all of 2025**, per a Reuters report. Yet the average leveraged ETF has shrunk from **$272.2 million in assets at the end of 2024 to just $63.3 million**, according to Morningstar Direct, cited by Reuters. Half now have less than **$7 million** in AUM. The mismatch is becoming harder to ignore. Morningstar says **63 leveraged single-stock ETFs have closed in 2026**, versus only three in 2025. Separately, Kepler Cheuvreux data cited by the **Financial Times** puts single-stock leveraged fund delistings at 122 in the past 12 months, underscoring the industry’s accelerating churn. ## NVDL Shows What the Winners Look Like Assets are increasingly concentrating in established products tied to high-profile, volatile stocks. The **GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)** is the standout, with about $3.9 billion in assets. The fund targets twice **Nvidia Corp’s** (NASDAQ:NVDA) daily return, making it a direct beneficiary of continued enthusiasm for AI and semiconductor stocks. Other major leveraged vehicles include the **Direxion Daily Semiconductor Bull 3X ETF (NYSE:SOXL)** and its bearish counterpart **Direxion Daily Semiconductor Bear 3X ETF (NYSE:SOXS)**, which provide 3x and -3x daily exposure to semiconductors. SOXL has also attracted enormous trading interest despite the sector’s violent swings, and is among the largest ETFs in terms of average trading volumes. The broader leveraged universe extends to products such as **ProShares UltraPro QQQ (NASDAQ:TQQQ)**, **GraniteShares 2x Long MU Daily ETF (NASDAQ:MULL)**, **GraniteShares 2x Long Dell Daily ETF (NASDAQ:DLLL)** and **GraniteShares 2x Long Intel Daily ETF (NASDAQ:INTW)**. Each of these is among the ETFs with the highest trading interest. ## Survival of the Fittest The pressure is particularly acute among newer, smaller products. Industry analysts estimate that a new ETF generally needs $50 million-$100 million within its first year or two to become economically sustainable. Corgi Invest, meanwhile, has launched **127 leveraged or inverse single-stock products** this year, but its funds average only about **$1 million in assets**, noted Reuters. The risk is not merely commercial. GraniteShares liquidated a leveraged **Lucid Group Inc.** (NASDAQ:LCID)-linked ETF after Lucid shares fell as much as 51% intraday on July 14, per Reuters, before recovering to close down about 16% when the company denied a report that its restructuring adviser had floated bankruptcy — an illustration of how a violent round trip in an underlying stock can devastate a daily-reset leveraged product. The takeaway for investors: **the leveraged ETF boom may not be disappearing, but it is becoming a winner-take-most market.** As launches proliferate, liquidity, AUM and the strength of the underlying trend could increasingly determine which products survive, and which become the next closure statistic. **Read Also: Nvidia, Blackwell and AI Spending: 4 ETFs in Focus Ahead of Earnings** *Photo: Shutterstock* ### Related Stocks - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [NVDL.US](https://longbridge.com/en/quote/NVDL.US.md) - [NVDD.US](https://longbridge.com/en/quote/NVDD.US.md) - [NVDY.US](https://longbridge.com/en/quote/NVDY.US.md) - [NVDU.US](https://longbridge.com/en/quote/NVDU.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [NVD.US](https://longbridge.com/en/quote/NVD.US.md) - [SOXS.US](https://longbridge.com/en/quote/SOXS.US.md) - [07788.HK](https://longbridge.com/en/quote/07788.HK.md) - [07388.HK](https://longbridge.com/en/quote/07388.HK.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [NVDB.US](https://longbridge.com/en/quote/NVDB.US.md) - [NVDG.US](https://longbridge.com/en/quote/NVDG.US.md) - [NVDO.US](https://longbridge.com/en/quote/NVDO.US.md) - [NVDS.US](https://longbridge.com/en/quote/NVDS.US.md) - [NVDW.US](https://longbridge.com/en/quote/NVDW.US.md) - [NVYY.US](https://longbridge.com/en/quote/NVYY.US.md) - [NYYY.US](https://longbridge.com/en/quote/NYYY.US.md) - [NVDX.US](https://longbridge.com/en/quote/NVDX.US.md) - [NVDQ.US](https://longbridge.com/en/quote/NVDQ.US.md) - [DIPS.US](https://longbridge.com/en/quote/DIPS.US.md) - [MAGX.US](https://longbridge.com/en/quote/MAGX.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [SOXQ.US](https://longbridge.com/en/quote/SOXQ.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [FTXL.US](https://longbridge.com/en/quote/FTXL.US.md) - [09388.HK](https://longbridge.com/en/quote/09388.HK.md) - [TQQQ.US](https://longbridge.com/en/quote/TQQQ.US.md) - [MULL.US](https://longbridge.com/en/quote/MULL.US.md) - [DLLL.US](https://longbridge.com/en/quote/DLLL.US.md) - [INTW.US](https://longbridge.com/en/quote/INTW.US.md) - [LCID.US](https://longbridge.com/en/quote/LCID.US.md) - [MORN.US](https://longbridge.com/en/quote/MORN.US.md) - [TRI.US](https://longbridge.com/en/quote/TRI.US.md) - [SSTK.US](https://longbridge.com/en/quote/SSTK.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) ## Related News & Research - [Nvidia (NVDA) Earns Price-Target Upgrades After Monster Q2](https://longbridge.com/en/news/297214744.md) - [Nvidia Stock (NVDA) Could Reach a $13 Trillion Market Cap, Says Five-Star Analyst](https://longbridge.com/en/news/297342546.md) - [Jacobson & Schmitt Advisors LLC Boosts Stake in NVIDIA Corporation $NVDA](https://longbridge.com/en/news/297290654.md) - [Nvidia Announces That Groq 3 LPX Is in Full-Scale Production. 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