Korean retail investors, known for their strong hunger for cryptocurrencies, are now focusing their attention on crypto-related shares listed by the US. Even while stock prices are falling, they continue to transfer billions in companies that are linked to digital assets, which indicates a major shift in global capital flows.
Billions streams in American crypto shares
According to 10x researchThis year, Korean people have bought more than $ 12 billion in shares in crypto-related companies. The largest beneficiaries are Bitmine, Circle Internet Group and Coinbase.
In August, the purchasing spree became intensive, $ 426 million went into Bitmine, $ 226 million in the circle and $ 183 million in Coinbase. Korean investors also bought $ 282 million from a 2x Ether ETF, a lever fund with double the daily return of Ethereum.
“Korean investors flow billions in crypto shares, so that global flows are reformed in ways that Wall Street can no longer ignore.”
From Tesla to Crypto
This enthusiasm marks a noticeable shift. Only a few years ago the Korean shop money flowed into American tech giants such as Tesla and Nvidia. Now the tightening of Crypto Regulation in both the US and in Korea, digital assets shares are on the rise and the new favorite.
Buy the dip, Korean style
What is striking is that buying is not delayed, despite the competitive drop. Bitmine, which was made public in June and soon became the world’s largest holder of Ethereum, saw his stock price peak at $ 135 in July before he dropped almost 68% to $ 43 at the end of August.
In the meantime, Circle Internet Group, the E -Pittent from USDC, also fell by more than half, which fell from $ 263 to $ 131.
Nevertheless, Korean retail investors continued to buy. In just five days from 25 August, according to the Korea Securities Depository, they have $ 96.87 million in Bitmine shares and $ 32.44 million in circle.
Note: despite billions of investments
10x research further warned that although enthusiasm remains strong, some signs of fatigue show: “Circle has already been corrected by more than 50%, while the sharp decline of Kakaopay is a different sign that parts of this story are losing steam.
With billions that flows from Korea to American crypto-related shares, Wall Street can no longer overlook the role of worldwide retail money.