BitMine, noted for its large Ethereum holdings, became Korea’s second-largest investment this year. After pivoting toward Ethereum accumulation, its stock surged over 3,000% to a July 3 peak, before retreating roughly 82% from that high. This year’s net purchases into BitMine reached about $1.4 billion, underscoring persistent demand from Korean retail investors for crypto-related exposure.
Following the rally, the T-Rex 2x Long BitMine Daily Target ETF was launched and drew around $566 million in inflows, offering 2x exposure to BitMine’s daily moves. The surge reflects a willingness among Korean investors to engage in higher-risk strategies amid ongoing crypto market volatility. Beyond BitMine, the broader crypto market continues to see volatility-driven interest in a wide range of small-cap tokens or altcoins, signaling a pronounced risk-taking stance among domestic participants.
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