The U.S. single-stock leveraged ETF market is undergoing a sharp shakeout after a speculative boom, with average fund assets falling 76.7% from $272.2 million at the end of 2024 to $63.3 million, according to Morningstar Direct. Morningstar said 63 leveraged single-stock funds closed in 2026, compared with three in 2025, while Kepler Cheuvreux data showed 122 single-stock leveraged fund delistings in the past 12 months. Half of 474 leveraged ETFs held less than $7 million, far below the $50 million-to-$100 million generally considered necessary for a new fund to survive its first one to two years. Despite the contraction, 244 leveraged ETFs launched in the U.S. by mid-August, exceeding the 229 launched during all of 2025. Assets are concentrating in established products such as GraniteShares' $3.9 billion 2x Long NVDA Daily ETF and Direxion's semiconductor funds, while Corgi Invest has launched 127 leveraged or inverse single-stock products averaging about $1 million in assets each.