Investors are piling into leveraged funds: Assets under management in US leveraged ETFs have hit a record ~135 BILLION. This has surpassed the previous high of ~130 billion set in February 2025. Total leveraged ETF AUM has DOUBLED over the last 2 years, along with risk appetite. The rapid growth in leveraged trading began in 2020, following the largest stimulus programs in US history, and continues today. Meanwhile, over 70 leveraged ETFs have launched so far this year. Risk appetite is at record levels.