Margin debt hits $920.96B in May. $135B flows into leveraged ETFs. Speculation outpacing cash.
Margin debt across brokerage accounts in the United States reached $920.96 billion in May 2025, according to FINRA’s latest verified data. That number reflects an 8.3% jump over April and places leverage at levels not seen since the final quarter of 2021. The notable shift isn’t just the size—it’s the composition. Debt exposure is spread …