Overview
- Themes ETFs filed for a leveraged product tied to Roundhill’s Memory ETF, known as DRAM, which has climbed about 98% since its April 2 launch and reached $6.7 billion in assets by May 11.
- DRAM gathered $6.5 billion in only 36 trading days, a record pace that topped the iShares Bitcoin Trust’s run to the same mark, with roughly $1 billion arriving in a single day.
- The fund is an actively managed bet on memory-chip makers, with heavy stakes in SK Hynix, Micron, Samsung, and SanDisk, and about 54% of assets sitting in its top two positions.
- Recent swings exposed policy risk when a South Korean tax comment knocked the fund nearly 7% before officials clarified they were not planning immediate new taxes.
- Investor interest tracks the AI buildout, as high-bandwidth memory used to train and run large models drives orders, and DRAM captured an estimated 17% of all US stock ETF inflows for the week ending May 8.