10x Research: South Korean retail traders have bought over $12 billion worth of US crypto company stocks this year

On August 31st, data showed that South Korean individual investors, who have been active in cryptocurrency investments, are expanding their investments and aggressively purchasing US-listed crypto-related stocks.

10x Research stated that South Korean retail investors have purchased over $12 billion in US-listed crypto companies this year, including Bitmine, Circle, and Coinbase. In August alone, South Korean investors bought $426 million in Bitmine, $226 million in Circle, and $183 million in Coinbase.

They also invested $282 million in a 2x Ethereum ETF. 10x Research noted, "South Korean investors are pouring billions of dollars into crypto stocks, reshaping global capital flows and forcing Wall Street to take notice.

Stablecoin legislation in the US and South Korea also provides a strong backdrop for this influx of capital." This trend differs from a few years ago, when South Korean retail investors primarily flocked to US-listed tech giants like Tesla and Nvidia.

Crypto stock prices have fallen due to the Federal Reserve's delayed interest rate cut, but this has not dampened investor demand. Data from the Korea Securities Depository Corporation shows that in the five days starting August 25th, South Korean retail investors net bought $96.87 million worth of Bitmine stock and $32.44 million worth of Circle stock. A 10x Research report notes that in South Korea, everything is trend trading. And trends can change rapidly.