Leveraged ETFs in chip stocks are seeing historic capital flows. Global leveraged and inverse ETFs tracking SK Hynix now hold ~$5.5 billion in assets, the most of any single stock worldwide. This is followed by Micron, MU, and Nvidia, NVDA, which account for ~$5.1 billion and ~$4.8 billion in leveraged and inverse ETF assets, respectively. By comparison, Tesla, TSLA, is the largest non-chip name on the list, with ~$3.7 billion tied to the stock. In total, semiconductor-related names account for ~$21.0 billion in leveraged and inverse ETF assets. Meanwhile, the 3x leveraged US semiconductor ETF, SOXL, attracted +$6.9 billion in inflows in July, the largest monthly intake in the fund’s history. Chip stocks have become the center of leveraged ETF exposure.(The Kobeissi Letter)