Tom Lee, co-founder of Fundstrat and chairman of BitMine, highlights a capital rotation from AI memory-chip stocks to Ethereum. Between June 25 and July 21, BlackRock’s iShares Ethereum Trust ETF (ETHA) outperformed the Roundhill DRAM ETF by 72 percentage points, with Ethereum gaining 24% while the DRAM ETF fell 38%. Lee attributes Ethereum's strength to growing institutional adoption, citing examples like BlackRock’s tokenized BUIDL fund and Robinhood Chain. The outlook for memory-chip stocks remains uncertain amid mixed supply and demand signals, while Ethereum's long-term potential is compared to Amazon's early growth. Investors will watch upcoming ETF flows and memory-sector earnings to gauge if this trend continues.
