Is AI Money Rotating Into Ethereum? Tom Lee Cites 72% Outperformance
Fundstrat's Tom Lee said the ETH-versus-memory-chip trade widened by 7,200 basis points, or 72 percentage points, over the month to July 21, 2026, with BlackRock's iShares Ethereum ETF up 24% while the Roundhill Memory ETF fell 38%. He argued AI-linked capital is rotating out of memory chips and into Ethereum.
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