Yes I believe that's true, with the idea of a trace cache originating in the 90s to work around perceived I-cache limitations, "Trace Cache: a Low Latency Approach to High Bandwidth Instruction Fetching" is the seminal paper on it.
https://en.wikipedia.org/wiki/Josh_Fisher#Trace_Scheduling
He combined this with a VLIW processor architecture to build Multiflow, a hardware startup. (Interesting history tidbit: Robert Colwell, who architected the P6, the first out-of-order Intel core, started his career at Multiflow before joining Intel. The P6 didn't have any trace-cache influences, but the P4, a few years later, infamously did...)