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NUKZ points to uranium supply gains and HALEU breakthrough
U.S. uranium concentrate output hit the highest level since 2017, and yellowcake prices rose to $58.46 per pound in 2025, according to EIA data.
ETF Trends said developments across the nuclear energy fuel supply chain are improving the backdrop for reactor deployment programs and supporting investors in the Range Nuclear Renaissance Index ETF, ticker NUKZ.
According to the U.S. Energy Information Administration, U.S. uranium concentrate production last year reached the highest levels recorded since 2017, more than tripling 2024 volumes. The EIA also cited a rise in the weighted-average price of U3O8, or yellowcake, to $58.46 per pound in 2025 from $52.71 per pound in 2024.
The outlet also pointed to progress on enrichment and fuel fabrication. Last month, Actinide became the first startup to enrich natural uranium to High-Assay Low-Enriched Uranium, addressing a bottleneck the Department of Energy described as having zero available HALEU due to constraints at the deconversion stage.
In downstream infrastructure, ETF Trends noted that X-Energy said it is making progress on its TRISO-X fuel fabrication facility in Oak Ridge, Tennessee, which is expected to become the first commercial plant dedicated to TRISO fuel in the U.S. The brief also cited NANO Nuclear’s agreement with Tillman Digital Gateway to assess integrating its microreactors into digital infrastructure sites.