When the government writes a $2.7 billion check for nuclear fuel infrastructure, the ripples hit fast. And if you're looking for where those ripples became waves, check out the Defiance Daily Target 2X Long OKLO ETF (OKLL), which rocketed 72% higher in the first three trading sessions of 2026. That's the kind of move that makes ETF investors very, very happy.
The catalyst? The Department of Energy just unleashed a massive funding package aimed at rebuilding America's uranium enrichment supply chain. The goal is straightforward: produce more low-enriched uranium and high-assay low-enriched uranium domestically, cut dependence on Russian fuel sources, and clear the runway for next-generation reactors that need specialized fuel to operate.
For nuclear-focused ETFs, this isn't just headline noise. It's the kind of structural policy shift that changes the math.
Why OKLL Is Leading the Charge
OKLL has become the sharpest expression of the "nuclear renaissance" trade available in ETF form. With concentrated exposure to advanced nuclear and small modular reactor companies, it's designed to amplify movements in the emerging atomic energy ecosystem. The fund's explosive start to 2026 tells you that investors are treating fuel security as a real catalyst, not just a talking point.
The DOE handed out task orders to Centrus Energy Corp's (LEU) American Centrifuge operation, Orano Federal Services, and General Matter. These contracts directly target the HALEU bottleneck that's been slowing down commercialization timelines for advanced reactors. That matters a lot when you consider the power demands coming from AI infrastructure and data centers, and it matters even more for ETFs built around that thesis.
The Momentum Is Spreading
OKLL isn't the only fund catching a bid. Uranium miners and nuclear infrastructure ETFs are rallying as investors position for what looks like a multi-year reindustrialization cycle.
The Sprott Uranium Miners ETF (URNM) climbed about 12% in the opening days of 2026, benefiting from "American-made" fuel policy that improves the economics for domestic mining operations. When Washington signals it's serious about onshoring critical supply chains, the market tends to pay attention.
What's Really Changing
The Trump administration is pushing nuclear energy as essential baseload power for AI-driven data centers, and that's shifting how investors think about the sector. It's no longer a speculative energy play tucked into the back of a portfolio. It's infrastructure, and infrastructure gets treated differently when the federal government starts writing billion-dollar checks.
For ETF investors, nuclear has moved out of the footnotes and into the main narrative. Whether that momentum holds depends on execution, but right now, the sector has something it hasn't had in years: serious policy support and serious money backing it up.