Retail investor demand climbed 16% over the past 30 days, hitting its highest level since December 2024. The jump marks the latest chapter in a broader trend that has quietly turned individual investors into one of the most powerful forces in US equity markets.
This isn’t a blip. The surge fits into a pattern that has been building for over a year, with retail flows into US stocks running more than 50% higher in 2025 compared to 2024. That figure sits roughly 14-17% above the previous peak set during the meme-stock frenzy of 2021.
The numbers tell a bigger story
Data from Citadel Securities paints an even more dramatic picture. Average daily dollar demand on the firm’s retail platform in early 2026 was running approximately 25% ahead of the prior high from 2021. By July 2026, average daily net buying spiked to 3.2 times the historical monthly average on Citadel’s platform.
Retail’s share of total US equity trading volume has swollen to an estimated 20-25% on a regular basis. In April 2025, that figure peaked near 35%. Before COVID-19 reshaped markets and trading apps became a national pastime, retail accounted for low single-digit percentages of daily volume.
Sentiment data reinforces the trend. A Schwab survey found that 47% of retail clients expressed bullish views on US stocks in Q3 2026, nearly doubling the 28% recorded in Q2. Trading volumes on the Schwab platform jumped 57% year-over-year during the same period.
What’s different this time around
A notable shift has occurred toward Exchange-Traded Funds. Rather than concentrating bets on individual meme stocks, retail investors are increasingly channeling capital into ETFs. This is especially pronounced among younger demographics, suggesting a generational evolution in how individual investors approach markets.
JPMorgan and Vanda Research have both tracked this transformation, with their data consistently identifying retail investors as key marginal buyers in the current market environment.