Crypto-native retail traders are massively rotating capital from memecoins into AI and semiconductor equities. In South Korea, Upbit trading volumes collapsed nearly 80% year-over-year to roughly $1.8 billion in daily volume by November 2025, while Bithumb lost about two-thirds of its activity. The capital has flowed into stocks: the KOSPI index climbed more than 70% year-to-date through late 2025, driven by Samsung Electronics and SK hynix, with Korean retail brokerage accounts growing from 86.57 million to 95.33 million. In the United States, the SOX semiconductor index surged 170% over the prior year through mid-2026, while Bitcoin dropped approximately 40%. Bitcoin ETFs recorded $2.7 billion in net outflows during a single week in early June 2026, contributing to $3.1 billion in outflows year-to-date.
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