BitMine ranks 2nd in Korean investors' preference for foreign stocks

BitMine (BitMine, BMNR), which is strategically accumulating Ethereum (ETH), has been ranked 2nd this year in foreign stocks preferred by Korean investors.

On the 30th (local time), Bloomberg reported that this year Korean investors net purchased about $1.4 billion of BitMine shares. This is the second-largest net purchase among foreign stocks listed on U.S. exchanges.

According to the outlet, BitMine attracted attention from Korean investors after shifting from a Bitcoin (BTC) mining company to a finance-and-staking strategy company centered on Ethereum. In particular, its building of a corporate Ethereum treasury strategy by holding ETH at scale was cited as an investment attraction.

Korean investors expanded their exposure to BitMine not only through individual stock investments but also via leveraged products. Cases were also confirmed where investors increased their positions using a 2x leveraged BitMine ETF launched by T-Rex.

The market is noting that, separate from crypto asset price volatility, Korean retail investors' preference for companies that strategically hold ETH is becoming clearer.