The winds of South Korean capital are shifting — and they’re blowing straight toward crypto. Once loyal to U.S. Big Tech giants, retail traders in Korea are now loading up on high-volatility, blockchain-linked stocks as the digital asset narrative takes center stage.
Fresh figures from the Korean Center for International Finance (KCIF) reveal a striking transformation: crypto-related companies made up just 8.5% of the top 50 overseas stocks bought by South Koreans in January. By June, that figure had skyrocketed to 36.5%, before easing slightly to 31.5% in July. In the same breath, appetite for Big Tech faded fast — net purchases of the sector’s heavyweights plunged 84% in July compared to the January–April monthly average of $1.68 billion.
KCIF points to two catalysts behind this rotation: the accelerating adoption of stablecoins worldwide and renewed market confidence following the passage of the U.S. GENIUS Act, which is laying the groundwork for clearer crypto regulation.
Leading the pack of new favorites is BitMine Immersion Technologies, an Ether-focused staking and infrastructure powerhouse. Bloomberg data from the Korea Securities Depository shows Korean retail traders poured $259 million into BitMine shares in July alone, making it the country’s top overseas stock pick for the month.
BitMine isn’t just attracting capital — it’s hoarding Ether at a record pace. In just 30 days, the company boosted its ETH holdings by a staggering 410.68%, reaching 833,100 ETH and securing the title of the world’s largest single Ether holder. With ETH breaking above $4,300, BitMine’s treasury now boasts nearly $3.6 billion in value, up 24% in a single month.
Ethereum co-founder Vitalik Buterin has cautiously welcomed the trend of public companies stacking ETH, suggesting it could turbocharge DeFi adoption and even usher in a “DeFi Summer 2.0.” But he also warned on the Bankless podcast that reckless leverage could set off a chain reaction of liquidations if prices tumble. Still, Buterin remains upbeat, noting that ETH-centric firms have, so far, shown the discipline to avoid such pitfalls.
With Silicon Valley’s shine dimming and crypto’s glow getting brighter, South Korean investors seem to be aligning themselves with what could be the next explosive growth cycle — one powered not by social media likes, but by blockchain blocks.
