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

Jinse Finance reported that data shows Korean individual investors, who have always been active in cryptocurrency investments, are expanding their investment scope by making large purchases of crypto-related stocks listed in the US. 10x Research stated that this year, Korean retail investors have purchased over $12 billion worth of US-listed crypto company stocks, including Bitmine, Circle, and a certain exchange. In August alone, Korean investors bought $426 million of Bitmine, $226 million of Circle, and $183 million of a certain exchange's stocks. They also invested $282 million in a 2x Ethereum ETF. 10x Research pointed out: "Korean investors are pouring billions of dollars into crypto stocks, reshaping global capital flows, and Wall Street has to pay attention. Stablecoin legislation in both the US and Korea also provides a strong backdrop for capital inflows." This trend is different from a few years ago, when Korean retail investors mainly flocked to US tech giants such as Tesla and Nvidia. Despite the decline in crypto stock prices due to the Federal Reserve's delayed rate cuts, investor demand has not weakened. According to data from the Korea Securities Depository, in the five days starting from August 25, Korean retail investors made net purchases of $96.87 million in Bitmine stocks and $32.44 million in Circle stocks. The 10x Research report noted that in Korea, everything is about trend trading. And trends can change rapidly.