Leveraged ETFs are no longer a niche product.
US-listed funds now hold around $200 billion in assets, equivalent to roughly $400 billion of market exposure, while trading volumes are running about 50% above last year's record pace. Market structure increasingly matters. Source: TME, JP Morgan
The Memory ETF is now the fastest ETF in history to hit $10 billion, $15 billion, and $20 billion in assets under management.
Source: Charlie Belillo
Retail investors are piling into SpaceX at an UNPRECEDENTED pace:
The ARK Innovation ETF, $ARKK, recorded ~$7 billion in inflows in June, the largest in nearly a year, with the surge coinciding precisely with the day of the SpaceX IPO. Over the first 3 trading sessions following its IPO, retail investors purchased a net $369.8 million of SpaceX, $SPCX, according to Vanda Research. By comparison, retail investors purchased just $88.2 million of Nvidia, $NVDA, over the same time. SpaceX's 3-day retail purchases roughly matched the COMBINED total of Nvidia, Alphabet, Amazon, Microsoft, Meta, the S&P 500 ETF, $SPY, and the Nasdaq 100 ETF, $QQQ. The retail mania is unlike anything seen before. Source: Global Markets Investor, Bloomberg
FLOWMAGEDDON: ETF flows have touched $1 trillion YTD, and it's still June...
To be sure, a touch of this is S&P 500 rebalancing but it is looking pretty good that last year's $1.5T record will be broken. Amazing $DRAM is in top 10 overall. Even tho SpaceX has stolen all the attn DRAM is still top 5 story of year. Source: Bloomberg, Eric Balchunas
The number of ETFs that held SpaceX went from 4 to 40 to now 120 in a couple days (few billion total).
These are all active ETFs choosing to buy, not indexes (they coming later). Here's a look at the list sorted by new buy, $JEPQ (the 2nd largest active ETF in world) at the top. Looks like a lot of JPM funds bought. Source: Eric Balchunas, Bloomberg
ProShares issued press release indicating it plans to launch 2x leveraged SpaceX ETF on *same day* as IPO.
Source: Nate Geraci
Crypto ETF outflows are MASSIVE
US Bitcoin ETFs posted net outflows of -$534 million in the most recent session, led by the ETF, $IBIT, at -$389 million. This extends a persistent trend of outflows over the last several weeks, with Bitcoin ETFs posting negative flows on the majority of trading days since early May. Overall, weekly crypto funds posted -$1.7 billion in outflows in the most recent week, in line with the highest weekly redemptions over the past year. In total, crypto funds saw over -$4 BILLION in outflows in just 3 weeks. Crypto market sentiment is deteriorating fast. Source: zerohedge, global markets investor
Vanguard S&P 500 $VOO becomes the first $1 trillion ETF in history
Source: Hedgeye, Bloomberg
