Korean Investors Shift from Tesla to Crypto Stocks
South Korea’s investors are moving away from tesla and investing in crypto-linked equities. In August, Korean retail sold $657 million worth of tesla shares. This amounts to an outflow of $1.8 billion over four months.
Despite the selloff, Tesla retains its top slot as a foreign stock among Korean retail traders. However, rivals like Nvidia and Palantir are catching up.the leveraged Tesla ETF, offering double the exposure, saw $554 million in redemptions last month.
Crypto-proxy stocks are gaining traction. Bitmine Immersion Technologies, known for its large Ethereum holdings, saw $253 million in net inflows in August.With july’s $259 million, it’s among the top foreign stock picks. Circle and Coinbase also attracted meaningful investments.
- Crypto-linked stocks now make up 31.4% of the top 50 net-purchased foreign stocks.
- Over 10.8 million Koreans trade crypto, surpassing local equity volumes.
Policy discussions around spot crypto etfs and exchange regulations continue. Digital assets in pensions remain debatable.Nonetheless, South Korean retail investors’ reallocation from U.S. tech to crypto proxies highlights their growing interest in digital assets.
