##  [# Roundhill Revives Meme Stock ETF As Speculative Fever Returns](/sections/features/roundhill-revives-meme-stock-etf-speculative-fever-returns) 

 

# Roundhill Revives Meme Stock ETF As Speculative Fever Returns

 

 

Roundhill is relaunching its meme stock ETF as retail speculation heats up again



 

 

 

 

 [![sumit](/sites/default/files/styles/author_image_icon/public/2023-03/Sumit_0.png?itok=SO-7S5SH "sumit")](/authors/sumit-roy) 

[By Sumit Roy ](/authors/sumit-roy)

 Oct 08, 2025

 Edited by: ETF.com Staff

 

 

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Roundhill is bringing back its meme stock ETF as animal spirits roar back into the market.  
  
The [**Roundhill Meme Stock ETF (MEME)**](/meme) launched on Wednesday, reviving a fund that previously shut down in 2023 after failing to attract assets. The original Roundhill MEME ETF, which debuted in December 2021, arrived just as the meme stock craze was fading.  
  
At the time, GameStop, AMC, and other speculative favorites were coming off a spectacular run that defined 2020 and 2021. But the timing couldn’t have been worse. Shortly after MEME’s launch, the Federal Reserve began aggressively hiking interest rates to fight inflation, triggering a sharp sell-off in high-flying, retail-driven stocks.  
  
By mid-2023, the fund had just $3 million in assets and was shuttered.  
  
Now, with speculative activity booming again, Roundhill is betting there’s finally demand for a meme stock ETF.

## A New Approach

This version of MEME looks a bit different from the original. Rather than tracking a social-media-based index, the new fund is actively managed, giving Roundhill more flexibility in deciding what to hold.

The first MEME ETF started by assigning stocks social media scores based on how often a company or its ticker was mentioned online, then filtered for those with the highest short interest, ultimately holding the 25 most shorted names.

In the relaunch, social media activity is now just one discretionary layer, applied after a volatility screen. The fund starts by looking at the 200 most actively traded U.S. stocks, narrows that list to the 30 with the highest implied volatility—a measure of how much the market expects a stock’s price to swing in the future—and then selects between 13 and 25 stocks showing strong social media momentum or spikes in online engagement.

That gives Roundhill more flexibility while still keeping the fund tied to the retail-trading zeitgeist.

The ETF’s initial holdings include Opendoor Technologies (12%), Plug Power (11%), Applied Digital (9%), QuantumScape (8%), and Cipher Mining (7%).

 
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## Better Timing?

The reemergence of MEME says a lot about today’s market mood. Speculative trading is back in full swing, with retail investors once again chasing volatile, social-media-driven names.

Whether Roundhill’s second attempt at a meme stock ETF can stick around this time remains to be seen. The issuer is certainly hoping its timing is better than it was the first time.



 

 

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 [ Sumit Roy Senior ETF Analyst ](/authors/sumit-roy) 

 

 

  Sumit Roy is the senior ETF analyst for etf.com and author of (Don't) Invest Like a Pro. He creates a variety of content for the platform, including…   [View Bio](/authors/sumit-roy)

 



 

 


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