Tesla and Nvidia Drive $43 Billion Boom in Single-Stock ETFs
Retail demand for Tesla, Nvidia, and other high-flying stocks has pushed single-stock ETF assets to $43 billion.
Since launching in 2022, single-stock ETFs have become one of the fastest-growing corners of the ETF market. In just three years, the U.S. lineup has expanded to 272 funds with a combined $43 billion in assets under management.
Contrary to what you might assume, those assets aren’t concentrated in just a few big names. Yes, the space shows the usual ETF concentration, with the top 10 funds holding about 56% of total assets. But there’s a surprisingly long tail of funds finding traction.
Nearly a quarter of single-stock ETFs, or 63 funds, now manage more than $100 million each. They’re tied to everything from household names like Tesla and Nvidia to niche plays such as AST SpaceMobile and D-Wave Quantum.
A Mix of Leverage, Inverse, and Options Strategies
Issuers have moved quickly to launch products tied to any stock with a strong retail following or headline momentum. Most are leveraged long ETFs, but there’s also a mix of inverse and options-based strategies.
Of the total $43 billion in assets, roughly $29 billion sits in leveraged long funds, $1 billion in inverse products, and more than $13 billion in options-based strategies of various kinds.
The 10 largest single-stock ETFs, representing $24 billion in assets, track stocks such as Tesla, Nvidia, Strategy, Coinbase, and AMD.
Expanding to the top 30, the list broadens to include Palantir, Alphabet, Amazon, Super Micro Computer, Oracle, UnitedHealth, Meta, Rigetti Computing, CoreWeave, and Robinhood.
10 Biggest Single Stock ETFs by AUM
| Ticker | Name | AUM ($M) |
| TSLL | Direxion Daily TSLA Bull 2x Shares | 7,495 |
| NVDL | GraniteShares 2x Long NVDA Daily ETF | 4,468 |
| MSTY | YieldMax MSTR Option Income Strategy ETF | 3,873 |
| NVDY | YieldMax NVDA Option Income Strategy ETF | 1,806 |
| TSLY | YieldMax TSLA Option Income ETF | 1,281 |
| CONY | YieldMax COIN Option INcome Strategy ETF | 1,259 |
| MSTU | T-Rex 2x Long MSTR Daily Target ETF | 1,133 |
| CONL | GraniteShares 2x Long COIN Daily ETF | 903 |
| AMDL | GraniteShares 2x Long AMD Daily ETF | 772 |
| MSTX | Defiance Daily Target 2x Long MSTR ETF | 713 |
Tesla and Nvidia Dominate the Field
It’s no surprise that Tesla has more single-stock ETFs tied to it than any other company, with 16 in total. Nvidia, the world’s most valuable company, follows with 14, while Strategy has 13. Coinbase and Palantir each have nine.
Almost every fund in the category tracks a stock that’s popular among retail traders and has surged this year.
That includes quantum computing names like IonQ and Rigetti Computing, crypto-related stocks such as MARA Holdings and Circle Internet Group, space-related stocks like Rocket Lab and AST SpaceMobile, and other retail favorites including AppLovin, Hims & Hers, Oklo, SoFi, and Intel.
As new “hot” stocks emerge, more single-stock ETFs will likely follow. The pace may eventually slow as the list of viable names becomes saturated, but the strategies themselves—particularly options-based approaches—could keep proliferating. There’s virtually no limit to how many variations can be layered onto a single stock.
Even with questions about the long-term performance of many of these funds, the steady inflows show there’s real demand for them.
For better or worse, single-stock ETFs have found their place as a fixture of the modern trading landscape, reflecting the retail appetite for targeted exposure to the market’s most talked-about names.
