The post Billions Flow Into Coinbase, Circle, Bitmine as Korean Investors Buy the Dip appeared first on Coinpedia Fintech News
Korean retail investors, known for their strong appetite for cryptocurrencies, are now turning their attention to U.S.-listed crypto-related stocks. Even as share prices tumble, they continue to pour billions into companies tied to digital assets, signaling a major shift in global capital flows.
Billions Flow Into U.S. Crypto Stocks
According to 10x Research, Korean individuals have purchased more than $12 billion worth of shares in crypto-related firms this year alone. The biggest beneficiaries include Bitmine, Circle Internet Group, and Coinbase.
In August, the buying spree intensified, $426 million went into Bitmine, $226 million into Circle, and $183 million into Coinbase. Korean investors also bought $282 million worth of a 2x Ether ETF, a leveraged fund offering double the daily return of Ethereum.
“Korean investors are pouring billions into crypto stocks, reshaping global flows in ways Wall Street can no longer ignore.”
From Tesla to Crypto
This enthusiasm marks a noticeable shift. Just a few years ago, Korean retail money was flowing into U.S. tech giants like Tesla and Nvidia. Now, with crypto regulation tightening in both the U.S. and Korea, digital asset equities are emerging as the new favorite.
Buying the dip, Korean style
What’s striking is that the buying has not slowed down despite sharp price declines. Bitmine, which went public in June and quickly became the world’s largest holder of Ethereum, saw its stock price peak at $135 in July before plunging nearly 68% to $43 by late August.
Meanwhile, Circle Internet Group, the issuer of USDC, also dropped by more than half, falling from $263 to $131.
Still, Korean retail investors kept buying. In just five days starting August 25, they scooped up $96.87 million in Bitmine shares and $32.44 million in Circle, according to the Korea Securities Depository.
Caution: Despite Billions Of Investment
10x Research further cautioned that while enthusiasm remains strong, some signs of fatigue are showing, “Circle has already corrected by more than 50%, while KakaoPay’s sharp decline is another sign that parts of this story are losing steam.
With billions flowing from Korea into U.S. crypto-related equities, Wall Street can no longer overlook the role of global retail money.
Source: https://coinpedia.org/news/billions-flow-into-coinbase-circle-bitmine-as-korean-investors-buy-the-dip/
