South Korean Retail Investors Sell $657M Tesla Stock as Crypto Demand Rises
TLDR
- South Korean retail investors sold $657M Tesla stock in August, the biggest since 2023.
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Bitmine Immersion Technologies drew $253M inflows as a proxy for Ether exposure.
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Tesla remains top foreign stock in Korea with $21.9B still held by retail traders.
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Leveraged Tesla ETF TSLL saw $554M outflow in August, the largest since early 2024.
South Korea’s individual investors sharply reduced their Tesla holdings in August, marking the largest monthly selloff in more than a year. The shift reflects a weakening appetite for the electric vehicle maker and growing enthusiasm for cryptocurrency-linked assets.
Record outflows from Tesla shares
According to depository data compiled by Bloomberg, South Korean retail traders…
