The Direxion Daily TSLA Bull 1.5X Shares (TSLL) has achieved a significant milestone by becoming the first U.S.-listed single-stock ETF to exceed $1 billion in assets under management (AUM). This accomplishment is particularly noteworthy considering that the ETF was launched less than a year ago and had only $168 million in AUM at the beginning of 2023.
The success of TSLL can be attributed to two key factors: the rapid appreciation of Tesla’s stock price since the start of the year and robust inflows into the ETF. Since its inception on August 9, 2022, investors have allocated $594 million into TSLL. However, despite the strong investor interest, the ETF’s price has declined by 17.6% since its inception, in contrast to a 1.5% gain in the price of Tesla (TSLA) during the same period.