US leveraged ETFs are growing at a record pace: Assets under management (AUM) in the 3x Leveraged Long Nasdaq 100 ETF, TQQQ, are up to ~$40 billion, near an all-time high. At the same time, AUM in the 3x Leveraged Long Semiconductor ETF, SOXL, are up to a record $34 billion. Since April, assets in SOXL have more than TRIPLED, while assets in TQQQ have nearly DOUBLED. By comparison, AUM in the 2x Leveraged Long Nasdaq 100 ETF, QLD, has grown +$7 billion, or +88% over the same period, to near a record ~$15 billion. As a result, total US leveraged ETF AUM is up to a record $198 billion, up +55% during the same time period. Investor leverage is at record highs.(The Kobeissi Letter)