A Hong Kong-listed 2x daily SK Hynix leveraged ETF has grown to about $13.0 bln
AUM in nine months, now the largest single-stock leveraged ETF globally. Its
size is roughly twice SK Hynix’s average daily turnover this year and exceeds
the combined AUM of leveraged ETFs tracking Micron, NVIDIA, SanDisk and Tesla.
On volatile days the ETF and smaller peers can account for roughly 66% of SK
Hynix trading volume. SK Hynix and Samsung together represent 57% of the KOSPI
weight, with SK Hynix alone at 28%, so swings in this single ETF can move the
benchmark. The ETF fell about 25% on Thursday, triggering forced selling and
accelerating market-wide volatility.