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Tom Lee: AI capital is rotating from storage chips to Ethereum, and ETH has outperformed the DRAM ETF by 72%.

PANews
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PANews July 22, 2024, citing BeInCrypto, Fundstrat co-founder and Bitmine chairman Tom Lee said that AI funds are rotating from the storage chip sector to Ethereum. He referenced data showing that the relative performance of Ethereum versus the Roundhill Memory ETF (DRAM) has widened by 72 percentage points since June 25: Ethereum is up 24%, while the DRAM ETF is down 38%. The DRAM ETF was launched in April this year and is the first fund that invests only in storage chip manufacturers. SK hynix and Samsung together account for about 41% of its weight. The fund raised $6.5 billion in 27 trading days, setting a record for the fastest ETF issuance. Lee noted that applications built on Ethereum—including BlackRock’s tokenized BUIDL fund and Robinhood Chain—support the bullish institutional outlook for Ethereum.
ETH-0.91%
DRAM10.89%
SK Hynix-0.32%
SKHY13.73%
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