South Koreans Invested $1.24 Billion in US Technology and Cryptocurrency Over the Korean Thanksgiving Period

During the Chuseok holiday, South Korean investors transformed their time off into a week of bold risk-taking, channeling $1.24 billion into US technology and crypto-related assets while domestic markets were closed from October 3 to 9.

Key Takeaways:

• South Korean investors invested $1.24 billion into US tech and crypto-related assets throughout the Chuseok holiday week.
• Major purchases included Tesla, Meta, and Bitcoin mining stocks, with leveraged ETFs driving the increase.
• The buying frenzy came to a sudden halt as US–China trade tensions sparked a global market downturn.

Rather than taking a break during the nation’s Thanksgiving holiday, retail investors invested heavily in leveraged ETFs and high-growth stocks, as indicated by data from the Korea Securities Depository.

Korean Investors Favor Tesla, Meta, and Bitcoin Mining Stocks

The most sought-after asset was the Direxion Daily Tesla Bull 2X ETF, a leveraged fund that magnifies Tesla’s stock fluctuations, with net acquisitions amounting to $151 million.

Other significant purchases included $105 million in Iris Energy, an Australian Bitcoin mining company; $100 million in Meta Platforms; and $96 million in Tesla shares themselves.

Another leveraged crypto investment, the T-REX 2X Long BMNR Daily Target ETF, which provides double exposure to Bitmine Immersion Technologies, ranked fifth among foreign acquisitions at approximately $95 million.

This buying spree followed a robust rally in Seoul, where the Kospi Index reached new peaks before the holiday due to optimism surrounding US tech resilience and local stimulus initiatives.

With Korean exchanges closed, that positive sentiment seemed to extend overseas as investors pursued Wall Street’s momentum.

Breaking
South Korea cautions traders about a potential massive carry trade that could destabilize markets. If the carry trade reverses, it could jeopardize the entire financial system, with investors heavily invested in leveraged tech ETFs.$spy $qqq $dxy $tlt…

— Roger (@rdd147) October 13, 2025

However, the timing may have been unfavorable. The increase in cross-border purchases occurred just days before global markets fell due to renewed US–China trade tensions, erasing some of the gains made in the previous week.

Analysts suggest it is uncertain whether Korean retail traders, recognized for their risk tolerance and quick decision-making, will continue to maintain such aggressive positions.

The Kospi reopened 1.7% lower on Monday, dipping back below the 3,600 mark and indicating that the Chuseok rally may have been fleeting.

South Korea Directs Crypto Exchanges to Cease Lending Services

In August, South Korea’s financial regulator took steps to curb risky lending practices within the digital asset sector, instructing local exchanges to halt all crypto lending services until a suitable regulatory framework is established.

This crackdown coincided with South Korea’s broader shift towards regulated crypto adoption. Authorities are easing restrictions on institutional trading and preparing to approve the nation’s first spot crypto ETFs.

President Lee Jae Myung’s administration is also developing a stablecoin framework linked to the Korean won, indicating a more progressive stance on digital finance despite the recent restrictions.

Recently, Dunamu, the operator of South Korea’s largest cryptocurrency exchange Upbit, launched a new custody service aimed at corporate and institutional clients, as regulatory approvals for virtual asset investments create increasing demand for secure storage solutions.

The service safeguards all deposited digital assets in cold wallets, completely offline and protected from internet-based threats, to defend holdings against cyberattacks and other external breaches.

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