DRAM ETF Blazes Past $1 Billion in Assets Under Management

The Roundhill Memory ETF, trading under the ticker DRAM, has taken the market by storm since its launch on April 2, 2026. The fund's assets under management have skyrocketed to $1 billion in just about 10 days, drawing comparisons to the debut of spot Bitcoin ETFs that reshaped crypto markets.

The ETF has concentrated nearly three-quarters (74.8%) of its portfolio in Micron Technology, Samsung Electronics, and SK Hynix, all major players in the memory chip industry. These three companies alone account for 75% of the fund's exposure, with Micron Technology leading at 25.96%, followed by Samsung Electronics at 25.40%, and SK Hynix at 23.46%. The remaining quarter is spread across other related companies.

The speed of DRAM's asset accumulation has raised questions about how capital moves in 2026. A counterpart fund, the Defiance Memory UCITS ETF, launched on June 18, 2026, and accumulated approximately $60 million in assets by early July, a fraction of what DRAM has achieved.

The ETF carries an expense ratio of 0.65%, which is higher than broad market index funds but within the mid-range for thematic ETFs. Investors should keep a close eye on capital expenditure plans from major cloud providers and AI labs, as these can significantly impact memory demand forecasts and put pressure on the fund.