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South Korean Retail Dumps Tesla, Rotates Into Crypto Stocks as August Outflows Reach $657 Million

Mixed regulatory signals sit alongside a national drive to build a digital‑asset market.

Overview

  • Bloomberg-calculated depository data show Korean individuals sold a net $657 million of Tesla in August, with about $1.8 billion withdrawn over four months.
  • Bitmine Immersion Technologies, viewed as an Ether proxy, attracted roughly $253 million in August inflows from Korean traders.
  • KCIF reports U.S. big‑tech purchases fell from a $1.68 billion monthly average in January–April to $260 million in July, while crypto-linked equities comprised 36.5% of top net-buys in June and 31.4% in July.
  • The leveraged TSLL fund tied to Tesla recorded $554 million in August redemptions, its biggest monthly outflow since early 2024.
  • Policy momentum includes a national priority on digital assets, even as the FSC chair nominee questioned crypto’s intrinsic value; local reports count over 10,000 investors holding more than 1 billion won in digital assets.