South Korean retail investors are making a bold shift in their investment strategies! Known as “seohak ants” for their interest in foreign stocks, these investors are moving away from tech giants like Tesla and Alphabet to embrace Ethereum-based stocks.
Data from the Korea Securities Depository reflects growing enthusiasm for companies holding significant Ethereum (ETH) reserves.
Over the past month, South Korean investors sold off approximately 1 trillion won ($721.6 million) in Tesla shares, a stock that has long dominated their net-buy rankings.
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Alphabet and Apple followed, with net sales of 230 billion won ($166 million) and 300 billion won ($216 million), respectively.
Instead, these investors are channeling funds into cryptocurrency firms, particularly those with substantial Ethereum holdings.
BitMine, a Bitcoin mining and Ethereum treasury company, emerged as a top pick, attracting $269 million in investments.
BitMine now ranks as the largest publicly listed holder of ETH.
This pivot is also a huge nod to public companies adopting cryptocurrency treasuries, a strategy popularized by Michael Saylor’s Strategy.
The appeal of Ethereum-based stocks lies in the dual benefit of cryptocurrency price appreciation and rising share values.
The sudden interest to hold ETH comes as Ethereum’s value continues to climb.
Meanwhile, in Thailand, authorities are cracking down on crypto exchanges that do not have licenses to operate in the country. This shows that there is also increased regulatory scrutiny in the region.
