Defiance Launches CRAM for China’s Growing Memory Chip Industry

Defiance ETFs has launched the China Memory ETF (CRAM) on Nasdaq, billed as the first U.S.-listed ETF dedicated to China’s memory and storage industry. The fund tracks the BITA China Memory Index, targeting mainland China and Hong Kong-listed companies across DRAM, NAND, NOR, storage, controllers, packaging, testing and memory-production equipment. CRAM aims to capture both rising AI-driven memory demand and China’s push for semiconductor self-sufficiency. The index applies revenue-based eligibility criteria and rebalances quarterly, while the ETF charges a 0.67% expense ratio.