10x Research: South Korean Retail Traders Have Bought Over $12 Billion Worth of US Stock Crypto Company Shares This Year

BlockBeats News, August 31st, data shows that South Korean retail investors who have been active in cryptocurrency investment are expanding their investment scope by heavily buying cryptocurrency-related stocks listed in the US. 10x Research stated that South Korean retail investors have purchased over $12 billion worth of US stock in cryptocurrency companies this year, including Bitmine, Circle, and Coinbase.

In August alone, South Korean investors bought $426 million worth of Bitmine stock, $226 million worth of Circle stock, and $183 million worth of Coinbase stock. They also bought $282 million worth of a 2x Ethereum ETF. 10x Research pointed out: "South Korean investors are pouring billions into cryptocurrency stocks, reshaping global capital flows, forcing Wall Street to take notice. The stablecoin legislation in the US and South Korea has also provided a strong backdrop for capital inflows."

This trend is different from a few years ago when South Korean retail investors mainly flocked to US stock tech giants like Tesla and Nvidia. Despite the drop in cryptocurrency stock prices due to the delayed interest rate cut by the Federal Reserve, it has not dampened investor demand. Data from a South Korean securities custodian company shows that in the five days since August 25th, South Korean retail investors have net bought $96.87 million worth of Bitmine stock and $32.44 million worth of Circle stock. The 10x Research report pointed out that in South Korea, everything is trend trading. And trends can change rapidly.