Elm tree top died back–how to establish a new central leader?

Question

I planted a 4 ft American Elm (var. “Princeton”) sapling on our rural
residence last year. It grew to 8 ft. Then we had a very cold winter
and spring and the top and all the main branches died back to 4 ft!
I pruned the dead trunk back to the first main branch, which I trained
up to vertical position. But it has no apical bud. Will ever become
the main leader?

If not, what should I do? I considered grafting, but none of the main
branches have apical buds either. The tree looks green and healthy,
but doesn’t seem to be growing.

I’m located in NE California at an elevation of 4,300 ft. I know
American elms grow in places as cold as N. Dakota, but we can freeze
any month of the year, and spring cold snaps are common. Is it likely
to die back again next winter?

Thanks!

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Answer 1

Thanks for the answer.

If it's botanically possible for the branch without
an apical bud to become the new leader, then I'm happy
to wait. Is it?

To be clear: I need a shade tree, not a bush. Watering
this tree is costing me money (generator, well). That's
why I asked the question. I could have come up with
"wait and see" on my own.

Answer 2

Since this injury is fairly new, I would give it another season to see how things shape up.

https://www.gardeningknowhow.com/ornamental/trees/elm/growing-elm-trees.htm