What’s next from Roundhill’s DRAM 5/11/26

The ETF Edge podcast explores the explosive rise of memory chips as the critical bottleneck in the AI revolution, with Dave Mazza of Roundhill Investments and Drew Pettit of Citi Research explaining why DRAM ETFs like the Roundhill Memory ETF are outperforming despite massive gains. They argue that the demand for high-bandwidth memory, driven by data center expansion and AI infrastructure, is so strong and sustained that supply-demand imbalances may persist through 2028—far beyond typical semiconductor cycles. What’s more, these stocks are still attractively priced relative to their peers due to a rare combination of explosive earnings growth and low valuations. As the market shifts from pure AI hardware to enablers like optical networking and industrial infrastructure, the conversation turns to what comes next: prediction market ETFs. Roundhill is one of only three firms to file with the SEC for a prediction market ETF, aiming to offer investors a direct way to bet on political and economic events—potentially unlocking a new frontier in uncorrelated, alternative assets. Despite regulatory uncertainty, the team sees this as the next evolution in ETF innovation, much like stocks, bonds, and crypto once were.