SEOUL – South Korean retail investors are turning away from US Big Tech stocks and flocking to crypto-linked equities, with BitMine Immersion Technologies emerging as the top choice.
A Yonhap News Agency report, citing the Korean Center for International Finance (KCIF), revealed that the share of crypto-linked stocks in the top 50 net-bought overseas securities by South Koreans rose from 8.5% in January to 36.5% in June, before easing to 31.5% in July.
By contrast, net purchases of leading US tech giants slumped to $260 million in July, down 84% from the monthly average of $1.68 billion between January and April. The KCIF linked the shift to the rapid global adoption of stablecoins and the passing of the United States GENIUS Act, which has encouraged exposure to blockchain-related companies.
Data from the Korea Securities Depository—reported by Bloomberg—shows South Korean traders pumped $259 million into BitMine stocks in July alone, making it the most-purchased foreign security in the country for the month.
The Ether-stacking firm has grown its ETH reserves by 410.68% over the past 30 days, now holding 833,100 ETH—the largest Ether stash in the world. At Monday’s market price of $4,265, BitMine’s holdings were worth nearly $3.6 billion, up 24% in just one week.
Vitalik Buterin supports ETH treasuries, warns against overleverage
Ethereum co-founder Vitalik Buterin voiced cautious support for public companies buying ETH, telling the Bankless podcast that such moves strengthen the ecosystem. However, he warned that overleveraging corporate treasuries could spark a “cascade of liquidations” if ETH prices tumble.
“The downfall of ETH could come if treasuries turned into an overleveraged game,” Buterin said, while adding that he believes current ETH investors remain disciplined enough to avoid this risk.
With crypto equities now making up nearly one-third of South Korean investors’ overseas stock picks, analysts say the shift signals a long-term diversification away from traditional tech toward digital asset exposure. Whether this momentum holds will depend on ETH’s market resilience and regulatory developments in the months ahead.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.