DRAM Hit $10B in 30 Sessions Beating BlackRock IBIT as Micron Surged 180% This Year

Key Takeaways

• Roundhill’s DRAM ETF crossed $10 billion in assets within roughly 30 trading sessions, overtaking BlackRock IBIT as the fastest-growing ETF launch on record
• Micron stock 2026 gains, alongside SK Hynix and Samsung, helped drive the surge as investors poured into AI memory trades
• Analysts say demand for high-bandwidth memory tied to AI infrastructure is reshaping the outlook for memory chip stocks

Wall Street’s AI trade is starting to widen out beyond Nvidia and the usual mega-cap names. Over the last few weeks, money has been flowing aggressively into memory chip stocks. This has helped in pushing Roundhill’s DRAM ETF past $10 billion in assets not long after launch. The pace surprised even ETF analysts, with the fund briefly growing faster than BlackRock IBIT did during the Bitcoin ETF frenzy earlier this year. Investors are betting that the next phase of AI growth will depend just as much on memory and storage as raw computing power.

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Why Roundhill’s DRAM Beat Every ETF Launch in History, Including BlackRock IBIT

The DRAM ETF is heavily concentrated in a handful of companies tied to AI memory infrastructure. Micron alone makes up roughly 27% of the fund, followed closely by SK Hynix and Samsung Electronics.

This concentration helped fuel the rally. Micron stock gains have been especially sharp in 2026. Shares are up more than 180% this year as demand for high-bandwidth memory accelerated across the AI sector. Bloomberg ETF analyst Eric Balchunas said DRAM reached $6.5 billion in assets faster than any ETF launch in history, beating BlackRock IBIT and Fidelity’s FBTC. The ETF also became one of the most traded funds in the US within weeks of launching.

The rally has gotten so intense that ETF issuers are already filing leveraged and structured products tied to DRAM. GraniteShares recently filed for an autocallable DRAM ETF as firms race to capitalize on investor demand around AI memory infrastructure.

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Investors Are Treating Memory as the Next AI Bottleneck

Analysts increasingly see memory chips as one of the most important parts of the AI buildout. D.A. Davidson recently said investors are still underestimating “the new math of memory in the AI age.“ This points to rising demand from larger AI models and longer context windows.

The latest shift has pushed AI chip stocks tied to storage and memory sharply higher this year. Seagate, Western Digital, Sandisk, and SK Hynix have all rallied alongside Micron.

Despite this, some analysts warn that the trade is becoming crowded. Memory has historically been one of the semiconductor industry’s most cyclical businesses. It has been swinging between shortages and oversupply. Morningstar analysts also flagged the DRAM ETF’s concentration risk, noting that a large part of the fund depends on just three companies continuing to outperform.

Even with those concerns, money is still moving in quickly. For now, the memory trade remains one of the hottest corners of the market.

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