A new leveraged ETF just walked into the room and immediately became the most talked-about launch in the space. The Roundhill T-REX 2X Long DRAM Daily Target ETF, trading under the ticker $RAM, recorded approximately $380 million in first-day trading volume on June 24, 2026, making it the largest debut ever for a US-listed leveraged or inverse ETF.
What exactly is $RAM, and why does it exist?
$RAM is a leveraged product designed to deliver 2x daily long exposure to its underlying fund, the Roundhill Memory ETF, which trades as $DRAM.
$DRAM itself launched on April 2, 2026, and surpassed $20 billion in assets under management within roughly two months of trading, delivering a total return of approximately 180% since inception.
The underlying theme is memory semiconductors, specifically the companies that produce DRAM, high-bandwidth memory, and NAND flash storage. Major holdings include Micron Technology, SK Hynix, and Samsung.
