South Korean retail investors are making a noticeable shift in their global investment strategies, moving away from U.S. Big Tech giants and pouring capital into high-volatility, crypto-related equities.

Fresh data from the Korean Center for International Finance (KCIF) shows that the share of crypto-linked companies among the top 50 most-purchased overseas stocks by South Korean traders surged from 8.5% in January to 36.5% in June, before moderating slightly to 31.5% in July. This transition coincides with a sharp drop in demand for U.S. tech shares — net purchases of major Big Tech firms plunged to $260 million in July, down 84% from the monthly average of $1.68 billion seen between January and April.

The KCIF attributes this trend partly to the growing global adoption of stablecoins and the market confidence fueled by the recent passage of the U.S. GENIUS Act, which is seen as a step toward clearer crypto regulation.

One of the standout beneficiaries of this investment wave is BitMine Immersion Technologies, an Ether-focused staking and infrastructure company. According to Bloomberg data from the Korea Securities Depository, South Korean retail traders funneled $259 million into BitMine shares since early July, making it the most-purchased overseas stock in the country for the month.

BitMine has also made headlines by expanding its Ethereum holdings by an extraordinary 410.68%, reaching 833,100 ETH in just 30 days — cementing its position as the largest single Ether holder worldwide. With ETH’s recent rally above $4,300, the company’s stash is now worth nearly $3.6 billion, marking a 24% increase in valuation.

Ethereum co-founder Vitalik Buterin has voiced cautious support for public companies holding ETH in their treasuries. While he sees potential for such moves to accelerate DeFi adoption and even spark a “DeFi Summer 2.0”, he warned in a recent Bankless podcast that excessive leverage could trigger cascading liquidations if ETH prices tumble. Still, Buterin remains optimistic, saying ETH-focused firms have shown the financial discipline needed to avoid such risks.

With traditional tech stocks losing their shine and crypto-linked assets gaining momentum, South Korean investors appear to be positioning themselves for what could be the next major wave in digital asset-driven growth.$BTC $XRP $ETH