Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
ETH Is a new path being formed in the field of artificial intelligence investment? Fundstrat co-founder Tom Lee made a remarkable conclusion: Over the past month, Ethereum's performance has been 72 points ahead of ETFs, which focus on memory chip companies. Li believes that investors are gradually shifting from hardware manufacturers under the theme of artificial intelligence to infrastructure projects such as Ethereum. However, not everyone agrees with this view.
In a chart shared on the X platform, Lee compared BlackRock's iShares Ethereum Trust ETF (ETHA) with the Roundhill Memory ETF (DRAM). Data showed that between June 25 and July 21, ETHA's performance improved by 72 points relative to DRAM ETFs.
Ethereum has risen 24% in the past month
According to data shared by Tom Lee, Ethereum has risen about 24% over the same period. In contrast, DRAM ETFs investing in memory chip makers fell 38%.
Li sees this divergence as a sign of a new investment trend he calls "AI downstream." In his view, investors are no longer just focusing on companies that produce AI hardware, but are turning to the blockchain infrastructure on which the AI ecosystem relies.
Moreover, he did not draw this conclusion based solely on price movements. 
Lee cited the examples of BlackRock and Robinhood
Li said Wall Street does not view Ethereum as just a tradable asset. He cited BlackRock's tokenized BUIDL fund and Robinhood Chain as examples in this regard. Robinhood Chain uses ETH to pay transaction fees, which has also become one of the important developments in expanding the Ethereum network application scenarios.
Li also compared Ethereum to Amazon many years ago. He warned that Amazon had been trading at low prices for a long time and then experienced strong gains as the market expanded.
At the same time, the attention of large investors continues. BitMEX co-founder Arthur Hayes purchased ETH worth approximately $2.53 million on Monday.
The pattern of the chip industry has not completely changed
Despite this, optimistic expectations for the memory chip industry still exist. Investment bank Jefferies expects memory prices to rise by about 50% this quarter.
The tight supply situation in the industry continues. In a lawsuit filed in the United States, allegations that some chipmakers pushed up DRAM prices by about 700% by restricting supply.
Therefore, some analysts believe that the sharp decline in DRAM ETFs may not be continued weakness, but a correction after a strong rise. In fact, SanDisk fell 14% in one trading day, Micron fell 5%, and Seagate fell 10%. Concerns about oversupply affected the sell-off.
Tom Lee's Ethereum investment attracts attention
When evaluating Lee's views, one important detail cannot be ignored.
BitMine, of which Tom Lee serves as chairman, holds approximately 5.77 million ETH units, which is equivalent to approximately 4.8% of Ethereum's total supply. Therefore, if expectations for a stronger Ethereum come true, BitMine will also benefit directly.
The financial results of memory chip companies to be announced in the next few weeks and the capital inflow of the Ethereum Spot ETF will be the most important data to judge whether Li's proposed capital rotation is sustainable.
This content is based on general market data and does not constitute investment advice. It is recommended that you conduct your own research.
