Leveraged ETFs now drive a record 16% of total global ETF daily trading value despite holding only ~1% (~$250 billion) of the ~$22 trillion global ETF industry. Daily trading volume for leveraged ETFs tripled since January to reach a record ~$70 billion in June, with long-leveraged funds seeing ~$43 billion in average daily turnover versus ~$18 billion for short-leveraged funds. Additionally, AI-related long-leveraged ETFs account for 58% of total long-leveraged exposure, while memory stocks comprise 48% of single-stock long-leveraged exposure.