U.S. Leveraged ETPs Hit $200 Billion in Assets as AI Investment Boom Drives Growth

According to data shared by Baird Strategas ETF Chief Strategist Todd Sohn and ETF Institute co-founder Nate Geraci, U.S.-listed leveraged exchange-traded products (ETPs) have surged to approximately $200 billion in assets under management, with nearly 700 products now available and notional exposure reaching around $500 billion—marking an all-time high. The rapid expansion reflects a shift from leveraged ETFs serving as niche trading tools to becoming one of the fastest-growing segments of the ETF market, with new product issuances accelerating significantly since 2022.

ProShares UltraPro QQQ (TQQQ), which provides 3x daily returns on the Nasdaq-100 index, remains among the largest and most actively traded leveraged products. Meanwhile, AI-driven demand has fueled the rise of memory-focused ETFs: Roundhill Memory ETF (DRAM) accumulated over $200 billion in assets within months of its 2026 launch, reflecting investor appetite for high-bandwidth memory and DRAM exposure tied to AI infrastructure buildout.