##  [# NVDL Nears $2B in Assets on Rallying Nvidia, AI Bets](/sections/news/nvdl-nears-2b-assets-rallying-nvidia-ai-bets) 

 

# NVDL Nears $2B in Assets on Rallying Nvidia, AI Bets

 

 

Single-stock ETF split 6-for-1 Tuesday after more than 60-fold gain since 2022 inception.



 

 

 

 

 [![RonDay](/sites/default/files/styles/author_image_icon/public/2024-01/etf.com_Author_RonDay.png?itok=XBj72rrJ "RonDay")](/contributors/ron-day) 

[By Ron Day](/contributors/ron-day)

 Mar 13, 2024

 Edited by: James Rubin

 

 

 [ + Follow ](/etf/login) 

     Share  <a class="a2a a2a_button_email"> Email </a><a class="a2a a2a_button_linkedin"> LinkedIn </a><a class="a2a a2a_button_facebook"> Facebook </a><a class="a2a a2a_button_x"> X (Twitter) </a> 

 

 

 

 

 

 

 

 

  
            googletag.cmd.push(function() {
                googletag.display('js-dfp-tag-article_page_302x26');
            });
    
    

 

 

  

 



 

 

  Loading 

 

 



 

 

Investors pumping money into NVDL, the exchange-traded fund that doubles the return on Nvidia Inc. stock, have pushed the fund’s assets to $2 billion as enthusiasm for artificial intelligence companies shows no sign of slowing.

The [**GraniteShares 2x Long NVDA Daily ETF (NVDL)**](https://nvdl/) has pulled in $1.02 billion this year, with more than half—$545.8 million—recorded on March 11, etf.com data show. Combined with a nearly three-fold price gain so far this year, that’s pushed the fund’s assets under management to $1.98 billion as of early on March 13, according to Bloomberg data.

New York-based [GraniteShares](/topics/graniteshares), which manages $3.66 billion in 15 ETFs, [split](https://www.globenewswire.com/js/news-release/2024/02/28/2837493/0/en/GraniteShares-Announces-Forward-Split-of-NVDL-and-FBL.html) NVDL’s stock 6-for-1 yesterday. The fund fell 6.1% to $40.89 at midday today.

Nvidia’s stock has jumped nearly four-fold over the past year as tech companies scramble to buy their semiconductors designed for AI applications. ETFs designed to magnify those gains, which also include the [**T-Rex 2X Long NVIDIA Daily Target ETF (NVDX)**](https://nvdx/), have skyrocketed.

“It took less than two weeks for NVDL to go from $1 billion to $2 billion in AUM, which is an insanely rapid ascent,” etf.com senior analyst Sumit Roy said. “About 70% of the increase was a result of inflows, while the rest came from the continued surge in shares of Nvidia, and by extension, NVDL.”

## Single-Stock Nvidia ETFs

Single-stock, or leveraged, ETFs began trading less than two years ago. They are intended for short-term investing, and use options and other tools to double the daily return of a stock.

GraniteShares has issued a handful of single-stock funds designed to capitalize on gains and declines in a stock, including the [**GraniteShares 2x Short NVDA Daily ETF (NVD)**](https://nvd/). That fund, which seeks to double returns in falling Nvidia shares, has dropped 75% this year and has $33.6 million in assets. Most of those assets have come in the past few days, as $19.3 million has flowed in since March 4.

 
            googletag.cmd.push(function() {
                googletag.display('js-dfp-tag-in_article_unit');
            });
    
    

 

 



 

 

 [ + Follow ](/etf/login) 

 [ Ron Day Contributing Editor ](/contributors/ron-day) 

 

 

  Ron Day is Contributing Editor at etf.com. He joined the company in October 2022 and has served as Managing Editor, deputy managing editor and…   [View Bio](/contributors/ron-day)

 



 

 


 Related Topics  [Technology](http://www.etf.com/topics/technology-0) 

 [Leveraged](http://www.etf.com/topics/leveraged)