Tom Lee, co-founder of Fundstrat and chairman of Bitmine, said capital tied to the AI trade is rotating out of memory-chip names and into Ethereum, according to BeInCrypto. He cited data showing that since June 25, Ethereum has outperformed the Roundhill Memory ETF (DRAM) by 72 percentage points. Over that span, ETH rose 24% while the DRAM ETF fell 38%.
The report said the DRAM ETF launched in April this year as the first fund focused only on memory-chip makers. SK Hynix and Samsung together account for about 41% of the fund’s weighting. It also raised $6.5 billion in 27 trading days, setting a record for the fastest ETF launch.
Lee also pointed to institutional activity on Ethereum. He said BlackRock’s tokenized BUIDL fund and applications such as Robinhood Chain are built on Ethereum, which he described as part of the institutional case for the asset.
Tom Lee, co-founder of Fundstrat and chairman of Bitmine, said AI-related capital is rotating from the memory-chip sector into Ethereum, according to BeInCrypto.
Lee cited data showing that Ethereum’s relative performance against the Roundhill Memory ETF (DRAM) has widened to 72 percentage points since June 25. Ethereum gained 24% over that period, while the DRAM ETF fell 38%.
DRAM ETF launched in April
The report said the DRAM ETF launched in April this year as the first fund invested only in memory-chip manufacturers. SK Hynix and Samsung make up about 41% of the fund’s total weighting. The ETF also raised $6.5 billion in 27 trading days, setting a record for the fastest ETF issuance.
Lee points to Ethereum’s institutional case
Lee said BlackRock’s tokenized BUIDL fund and applications including Robinhood Chain are built on Ethereum. He said that forms part of the institutional bullish case for ETH.
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