Korean retail investors in U.S. stocks sell Tesla and buy 'Ethereum-holding company'
Summary
- It was reported that Korean retail investors in U.S. stocks recently sold large amounts of Tesla stock.
- At the same time, they made large net purchases of shares of cryptocurrency miner Bitmain Emerging Technologies.
- Nevertheless, Tesla still maintains the top spot in holdings.
Korean retail investors in U.S. stocks (individual investors in U.S. stocks) were reported to have sold large amounts of Tesla stock and bought cryptocurrency-related stocks.
According to data from the Korea Securities Depository on the 2nd (Korea time), Korean retail investors net sold $657 million (about 916.3 billion won) worth of Tesla stock in August alone. This is the largest scale since 2019, with $1.8 billion having flowed out over the past four months.
Amid Tesla's weak share price, $554 million also flowed out of TSLL, an exchange-traded fund (ETF) that offers double leverage.
Meanwhile, during the same period, shares of cryptocurrency miner Bitmain Emerging Technologies recorded net purchases of $253 million (about 352.8 billion won). Bitmain is the listed company that holds the most Ethereum.
However, despite these large-scale sales, Tesla still ranks first in holdings. Korean retail investors' Tesla holdings now approach $21.9 billion.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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