Levered tech ETFs are out of control: There are now a record 108 long and 31 short tech-related leveraged ETFs, 139 in total. This is 3 TIMES more than the 2nd largest sector, financials, with 47 total funds. By comparison, Consumer Discretionary has 44 ETFs, while Communication Services has 34 ETFs. In other words, tech has more leveraged ETFs than the next 3 sectors COMBINED. Meanwhile, the number of US active ETF launches jumped +71% YoY, to a record 997 in 2025. This marks the 3rd consecutive annual increase, bringing the total to ~2,800 active ETFs in the US market. The ETF industry is exploding.(The Kobeissi Letter)