Bulls Hold the Line: Levered ETFs Rake in $183M Even as Crypto Names Crater

Weekly Channel Summary

The Single Stock ETF channel powered into the week of March 27, 2026 sitting on $30.8 billion in total AUM across 440 ETFs and 17 issuers — a universe that has exploded from just 1 issuer in 2020 to a 17-brand brawl today. Weekly net flows hit +$152 million, keeping the taps open after a strong $930M 30-day run. YTD flows stand at a robust $3.4 billion, and the trailing 1-year figure of $19.3 billion underscores just how voracious appetite for single-stock leverage products has become. Levered strategies dominated the week’s flow action while Inverse products continued to bleed, suggesting traders remain structurally bullish even amid volatile underlying names. With 60 new ETF launches in just the past three months, this channel shows absolutely zero signs of slowing down.

This Week’s Performance Leaders and Laggards

It was a week of brutal bifurcation. Biotech and commodity names absolutely ripped — Sarepta Therapeutics skyrocketed +19.65% on what appears to be favorable clinical or regulatory news, while Albemarle surged +14.52% as lithium names caught a bid. The Brazilian oil giant Petrobras added +10.48%, and Dell and ARM rounded out the winners in hardware and semiconductors. Meanwhile, the crypto-adjacent and high-beta growth complex got absolutely torched: Circle Internet Group cratered -25.68% — an absolute bloodbath for the 5 ETFs tracking it — while Coinbase plunged -18.41% and Micron tumbled -15.53%. IREN and Kratos also suffered double-digit losses. If you weren’t in commodities or old-school tech this week, you felt the pain.

Top & Bottom Underlying Stock Performance (WTD)

Weekly Performance: The Winners and Losers

When Circle Internet Group falls nearly -26% in a week, the inverse ETFs that bet against it have a field day — and that’s exactly what happened. CRCD (T-REX 2X Inverse CRCL Daily Target ETF) skyrocketed an eye-popping +59.08% WTD, making it the single best-performing ETF in the entire channel this week. CONI, the GraniteShares 2x Short COIN fund, piled on with a +42.93% gain as Coinbase imploded. Short-IREN and short-NBIS inverse products also posted stunning 30%+ gains. On the flip side, the carnage among CRCL bulls was historic — GEMG cratered -54.48%, while three CRCL bull ETFs (CRCA, CRCG, CCUP) all suffered losses in the -48% to -49% range. The power of daily resets and compounding cut both ways this week in spectacular fashion.

Analyzing the Weekly Flows

Levered products were the undisputed king of capital allocation this week, hoovering up $183 million in net new money — more than the other three categories combined — and extending a pattern that has produced nearly $5 billion in 90-day flows. Synthetic Income remained a steady second at +$71 million as yield-hungry investors continue to embrace covered-call-style products. The tiny Currency Hedged niche added a modest +$4 million. The real story is on the other side of the ledger: Inverse funds bled a painful -$105 million for the week. That mass exodus from short products — despite a tumultuous underlying market — signals that the dominant sentiment in this channel remains defiantly bullish. Traders are buying the dip in leveraged longs, not hedging with inverse products.

Where the Money Went This Week

Flow Leaders & Laggards: The ETF Tale of the Tape

At the individual ETF level, the flow picture gets even more interesting. SNXX, the Tradr 2X Long SNDK fund tracking Sandisk, topped the inflow charts with a whopping +$79 million — a staggering 14.53% of its own AUM in a single week. TSLL, the Direxion TSLA 2x bull product, kept its perennial magnetism intact with +$61 million even as Tesla itself slipped -1.67% WTD. CRCA, ProShares’ CRCL bull fund, somehow attracted +$56 million in new money despite collapsing -49% on the week — a testament to dip-buyers’ appetite. On the outflow side, NVDL bled the most cash at -$59 million as NVIDIA continued its YTD slide, while GGLL (GOOGL bull) hemorrhaged -$48 million and the MSTR 2x bull MSTX shed -$45 million amid Strategy Inc.’s ongoing slide.

Issuer League Table Update

The issuer landscape remains a three-horse race at the top — Direxion ($9.38B, 30.44% market share), GraniteShares ($6.92B, 22.44%), and YieldMax ($5.97B, 19.36%) collectively control over 72% of all channel AUM. Together, just three players are sitting on more than $22 billion. The next tier — Tradr, Defiance, and T-Rex — each hold between $1.9B and $2.3B, while the remaining 11 issuers split just $2.4B. With 60 new ETF launches in the past three months, Tradr led the new-product blitz (20 launches), suggesting the scrappier mid-tier players are aggressively trying to carve out turf.

The Heavyweights: Top 5 Issuers by AUM

Weekly Flows: Issuer Edition

Tradr absolutely dominated the weekly issuer flow rankings, hauling in $78 million — the most of any brand — representing 3.40% of its AUM. The #2 shock of the week was ProShares, which despite running just 5 ETFs in this channel, vacuumed up $57 million — an extraordinary 26.29% of its channel AUM in a single week, fueled almost entirely by CRCA inflows from CRCL dip-buyers. YieldMax kept its steady rhythm at +$52M. On the losing side, Defiance and GraniteShares each bled exactly -$53 million — a coordinated two-front selloff tied largely to MSTX, NVDL, and GGLL outflows.