Boxes and Lines What the Market Knows Before We Do: Dave Nadig on 2026
Jan 28, 2026
Dave Nadig, ETF.com president and researcher who studies ETFs, market structure, and financial innovation. He discusses 2025's record ETF flows and the surge of active ETFs. Conversation covers tokenization and whether 24/7 trading will catch on. They also debate rising retail speculation, prediction markets, and why ETF plumbing looks sturdier than critics fear.
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Markets Stayed Resilient Amid Chaos
- Despite geopolitical chaos, U.S. markets remained buoyant with massive ETF inflows and launches.
- Dave Nadig notes 2025 saw $1.5 trillion in ETF flows and ~1,200 new products, signaling strong investor demand.
Speculation Fueled By Market Strength
- Speculation rose alongside a rip market, driving retail participation and leverage.
- Nadig links cultural trends like sports betting to higher retail gamification of investing.
Hedging Can Amplify Market Chaos
- Investors seek hedges even while acknowledging overvaluation, often using options and other betting products.
- Nadig warns hedging behavior can increase market chaos as opinions concentrate into leveraged products.