South Korean Investors Shift Focus to BitMine as Ether Holdings Surge Amid Declining Interest in Big Tech Stocks
Main Idea
South Korean investors are shifting focus from Big Tech stocks to crypto-linked equities like BitMine, driven by increased Ether holdings and regulatory influences such as the US GENIUS Act.
Key Points
1. South Korean traders invested $259 million in BitMine in July, making it the most-purchased overseas stock.
2. BitMine's Ether holdings surged by 410.68% to 833,100 ETH.
3. Retail investments in US Big Tech stocks dropped by 84% in July compared to earlier months.
4. The shift is attributed to the acceptance of stablecoins and the impact of the US GENIUS Act.
5. Crypto-linked stocks among the top net-bought stocks rose from 8.5% in January to a higher percentage.
Description
South Korean traders invested $259 million in BitMine, making it the most-purchased overseas stock in July, reflecting a shift towards crypto-linked equities. BitMine has seen a significant increase in Ether
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