In an unexpected but powerful pivot toward the future of American energy, President Donald Trump signed a sweeping set of executive orders on May 23, 2025, aimed at reviving the nuclear power industry. Touting it as a cornerstone of U.S. energy independence, national security, and innovation, the orders reflect a policy shift that could significantly reshape the nation’s power grid and investment landscape.
The Case for Nuclear Energy
For years, nuclear energy has hovered at the edge of America’s energy conversation, quietly reliable but often politically contentious. Concerns about cost, waste, and safety have long hindered progress, even as climate goals and electrification demands surged. But the tide may finally be turning. Trump’s latest move is not just a policy tweak. It is a full-throated call to action, designed to quadruple the country’s nuclear energy capacity and remove excessive regulatory barriers in the process1.
Regulatory Reform and Speed to Market
At the heart of the announcement is a new directive to the Nuclear Regulatory Commission (NRC), mandating that it approve new reactor projects within 18 months. This is a substantial reduction from the often years-long process many developers face today2. While critics worry that this could undermine safety protocols, proponents argue it brings long-overdue modernization to a regulatory body that has struggled to keep pace with innovation.
Federal Land and Strategic Infrastructure
One of the most headline-grabbing elements is the push to deploy reactors on federal lands, especially those tied to national defense and critical infrastructure like artificial intelligence data centers. This initiative not only helps ensure reliable energy for high-priority operations, it could also serve as a proving ground for emerging technologies such as small modular reactors (SMRs)3. These reactors are compact, efficient, and capable of powering both civilian and military facilities. This positions them as a key element of future energy resilience.
Securing the Domestic Fuel Supply Chain
The orders also tackle America’s vulnerability in the nuclear fuel supply chain, aiming to boost domestic uranium mining and enrichment capabilities. In the wake of geopolitical instability and the West’s growing efforts to decouple from adversarial sources, this emphasis on American-sourced fuel could spark a resurgence in domestic production and related infrastructure4. The long-term implications extend beyond energy. A strengthened domestic fuel supply chain could also benefit national security, technology manufacturing, and export competitiveness.
Investor Optimism and Market Movements
For investors, these developments are more than political theater. Market reactions have already been notable. Companies like Oklo, which is pioneering compact, next-generation reactors, and uranium producers such as Cameco, saw stock surges following executive actions5. The surge reflects a broader awakening to nuclear as a viable, long-term play in the global energy transition.
The Rise of Advanced Reactor Technologies
Advanced nuclear technologies, particularly SMRs, are generating excitement for their promise of safer, scalable, and more flexible deployment. These reactors can be factory built, shipped, and installed with far less capital risk compared to traditional plants. In turn, that could open up entire value chains, from engineering and construction firms to component manufacturers and software providers.
Innovation Across the Ecosystem
Meanwhile, new startups are emerging across the nuclear ecosystem, backed by both government grants and venture capital. These companies are working not just on power generation, but also on waste recycling, fusion research, and digital reactor monitoring. Taken together, this ecosystem represents a potentially transformative chapter for the American industrial economy.
Challenges Ahead
Still, the path forward will not be without friction. Questions remain about how streamlined regulations will intersect with safety oversight. The industry must also contend with public perception, which continues to be shaped by the shadow of past accidents. Yet momentum is clearly building. With support from the highest levels of government, nuclear energy is being repositioned as a tool of prosperity, resilience, and technological leadership.
Why Now Matters
Now may be the time to lean in. The combination of regulatory support, national urgency, and technological readiness could make this moment a generational opportunity. Whether through ETFs focused on uranium miners, direct equity in reactor innovators, or infrastructure plays tied to deployment, nuclear is no longer a whisper in the clean energy conversation. It is a shout.
How May Investors Seize The Opportunity in The Nuclear Energy Sector?
The Range Nuclear Renaissance Index ETF (NUKZ) seeks to track the performance, before fees and expenses, of the Range Nuclear Renaissance Index. The index aims to track the performance of a portfolio of stocks that are involved in the nuclear fuel and energy industry.
Note: As of 5/23/25 Cameco, and Oklo Inc. were 9.15%, and 2.44% positions in NUKZ respectively.
See www.rangeetfs.com/nukz for a full list of positions. Holdings subject to change.
Sources
1 "Trump signs executive orders to spur US 'nuclear energy renaissance,'" The Guardian. https://www.theguardian.com/us-news/2025/may/23/trump-executive-orders-nuclear-energy
2 "Trump plan for fast-tracking nuclear power takes aim at regulators," The Washington Post. https://www.washingtonpost.com/business/2025/05/23/trump-nuclear-nrc-reactors
3 "Trump sets out aim to quadruple US nuclear capacity," World Nuclear News. https://world-nuclear-news.org/Articles/Trump-sets-out-aim-to-quadruple-US-nuclear-capacity
4 "Donald Trump issues directive to fast-track nuclear energy development," Financial Times. https://www.ft.com/content/e7efe4ad-bb59-48a2-8309-72ca0ab9dd51
5 "Cathie Wood Sold These Nuclear Stocks As Trump's Executive Orders Sent The Sector Soaring," Investor's Business Daily. https://www.investors.com/news/cathie-wood-sells-trump-executive-orders-nuclear-stock-market
Risk Disclosures:
Carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's full or summary prospectus, which may be obtained by visiting www.rangeetfs.com/nukz. Read it carefully before investing or sending money.
Investing involves risk, including possible loss of principal. There is no guarantee the Funds will achieve their stated investment objectives.
Investments in the energy industry are subject to significant volatility due to changes in commodity prices. Additional risks include changes in exchange rates, government regulation, world events, economic and political conditions in the countries where energy companies are located or do business, and risks for environmental damage claims.
The Fund is non-diversified. Its concentration in an industry or sector can increase the impact of, and potential losses associated with, the risks from investing in those industries/sectors.
Nuclear companies may be subject to substantial government regulation and contractual fixed pricing, which may increase the cost of doing business and limit the earnings of these companies. A significant portion of revenues of nuclear companies depends on a relatively small number of customers, including governmental entities and utilities. As a result, governmental budget constraints may have a material adverse effect on the stock prices of companies in this sub-industry.
International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Investments in smaller companies typically exhibit higher volatility.
The Fund may invest in securities denominated in foreign currencies. Because the Fund's NAV is determined in U.S. dollars, the Fund's NAV could decline if currencies of the underlying securities depreciate against the U.S. dollar or if there are delays or limits on repatriation of such currencies. Currency exchange rates can be very volatile and can change quickly and unpredictably.
Because the Fund is new, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy, may not employ a successful investment strategy, or may fail to attract sufficient assets under management to realize economies of scale, any of which could result in the Fund being liquidated at any time without shareholder approval and at a time that may not be favorable for all shareholders. Such liquidation could have negative tax consequences for shareholders and will cause shareholders to incur expenses of liquidation.
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Exchange Traded Concepts, LLC serves as the investment advisor of the funds. NUKZ, LNGZ, COAL, and OFOS ETFs are distributed by SEI Investments Distribution Co. (SIDCO, 1 Freedom Valley Drive, Oaks, PA 19456), which is not affiliated with Exchange Traded Concepts, LLC, or any of its affiliates.
