In August, South Korean retail investors sold a significant portion of their Tesla stock holdings, amounting to $657 million, marking the largest outflow since at least 2019. The exodus from Tesla coincided with a surge in investments into Ethereum-related assets. Bitmine Immersion Technologies Inc., which offers exposure to Ethereum through its proxy asset, attracted $253 million in net investment during the same period. 🧐 This shift reflects growing investor enthusiasm for cryptocurrencies and the potential of decentralized finance (DeFi). 📈 The trend signifies a change in sentiment among South Korean investors who are increasingly shifting from traditional tech stocks to higher-risk assets like Ethereum. 💰 Despite this major sell-off, Tesla remains the top choice for most retail traders in Korea. Their holdings still represent $21.9 billion – a stark contrast to second- and third-place contenders like Nvidia Corp. and Palantir Technologies Inc., whose investments remain significantly smaller. However, even the TSLL exchange-traded fund, which provides double leverage on Tesla shares, saw its largest outflow since early 2024 in August, at $554 million. The shift reflects a broader trend of South Korean investors increasingly directing capital towards more volatile crypto and DeFi assets.