South Korean retail investors have been making a radical shift away from established tech giants like Alphabet and Tesla, instead pouring their funds into Ethereum (ETH) related stocks. This trend is evident in the substantial investment of $259 million in Peter Thiel-backed BitMine shares since early July, according to data from Korea Securities Depository, which revealed BitMine as the most popular foreign stock traded by South Korean retail investors. 2023 has seen a surge in ETH treasury related stocks such as BitMine Immersion Technologies, which is experiencing remarkable growth as it shifts its focus to accumulating and holding Ethereum (ETH). The company boasts over $3.6 billion worth of ETH reserves, with recent reports suggesting that BitMine may issue up to $20 billion worth of stock to further acquire more ETH. 2023 is marked by a significant speculative frenzy in the South Korean crypto market, particularly among retail investors. This has led them to explore high-risk, high-reward avenues like leveraged ETFs and stablecoins. The enthusiasm for cryptocurrency is palpable with nearly 18 million South Koreans actively engaged in this space.