In the turbulent waters of the financial market, investors often face an eternal challenge: how to seize opportunities amid market turmoil. On March 11, 2025, global markets experienced a sudden crash, with both the U.S. stock market and the cryptocurrency market not spared. However, as the saying goes, "be greedy when others are fearful," some astute investors and institutions chose to "buy the dip" at this moment—buying at low prices in anticipation of a future rebound. This article will delve into which institutions and investors quietly bottomed out during yesterday's market crash and the investment logic behind them.

Ark Invest: A Firm Believer in Tech Stocks

As tech stocks suffered heavy losses, Ark Invest, led by Cathie Wood, once again demonstrated its unwavering confidence in innovative technology. According to The Block, as Coinbase's stock price fell 17.6% on Monday, Ark Invest decisively stepped in, purchasing 64,358 shares of Coinbase stock worth $11.5 million. Among them:

• Ark Innovation ETF (ARKK) purchased 52,753 shares, valued at $9.4 million;
• Ark Fintech Innovation ETF (ARKF) purchased 11,605 shares, valued at $2.1 million.

In addition, Ark invested $9.6 million to buy Robinhood stock while selling $20.6 million worth of Block stock. On the day of the significant drop in the U.S. stock market, Ark Invest invested over $70 million in multiple stocks, including Tesla, Palantir, Coinbase, AMD, Tempus AI, and Robinhood.

This series of actions by Ark Invest is not coincidental. Since its inception, Ark has focused on investing in companies with disruptive innovation potential. Despite frequent market fluctuations, it has consistently maintained that these companies will lead the technological revolution in the future. The decision to increase its position during the drop in Coinbase's stock price reflects Ark's optimism about the long-term prospects of cryptocurrency and fintech. Currently:

• In the ARKK fund, Coinbase is the third-largest holding, with a weight of 7.1%, valued at approximately $375.1 million, second only to Tesla and Roku;
• In the ARKF fund, Coinbase is the second-largest holding, with a weight of 7.7%, valued at approximately $65.7 million, second only to Shopify.

This allocation shows Ark's high regard for Coinbase, believing that its leading position in the cryptocurrency trading space will continue to drive growth. At the same time, Cathie Wood has made a judgment about the current market: it is currently digesting the final stage of a rolling recession, which will provide the Trump administration and the Powell Fed with more policy adjustment space than investors expect, potentially pushing the U.S. economy into a "deflationary boom" in the second half of this year. Cathie Wood believes that the Fed's monetary policy will become more flexible, and the market may be underestimating this potential economic rebound.

Ming Cheng Group: Strategic Investor in Bitcoin

Meanwhile, Hong Kong's Ming Cheng Group, through its wholly-owned subsidiary Lead Benefit, has once again demonstrated a strong interest in Bitcoin. According to Globenewswire, Lead Benefit purchased 333 Bitcoins at an average price of $81,555 each, with a total investment of approximately $27 million. Previously, on January 9, 2025, the company also purchased 500 Bitcoins at an average price of $94,375 each, with an investment of approximately $47 million.

This series of investment actions by Ming Cheng Group highlights its strategy of viewing Bitcoin as a short-term investment tool. The company stated that the purchase of Bitcoin is aimed at capturing its potential appreciation and increasing the diversity of its asset allocation. Additionally, the high liquidity of the Bitcoin market provides convenience for the company to quickly liquidate when needed, supporting its main business—wet operations engineering.

This investment decision reflects Ming Cheng Group's optimistic attitude toward the prospects of the cryptocurrency market. Despite the significant price volatility of Bitcoin, its status as a global digital asset is attracting more and more institutional investors. Ming Cheng Group's continued accumulation may indicate its recognition of Bitcoin's long-term value.

Longling Capital: Active Player in ETH

In the cryptocurrency market, Longling Capital's movements are also noteworthy. According to Lookonchain monitoring, Longling Capital withdrew 10,001 ETH from Binance on March 11, valued at approximately $19.16 million. Since December 19, 2024, this address has accumulated 44,002 ETH at an average price of $2,563, with a total value of approximately $112 million.

It is worth mentioning that Longling Capital previously profited $33.67 million by "buying low and selling high" in ETH, but is currently facing an unrealized loss of $28.78 million. Nevertheless, it chose to increase its position in ETH during the market crash, demonstrating confidence in ETH's long-term value. This action may be based on optimism about ETH's application prospects in decentralized finance (DeFi) and non-fungible tokens (NFTs).

However, risks cannot be ignored. Currently, Longling Capital's health ratio on Aave is 1.82, with a liquidation price of $1,048. If the price of ETH falls below this level, the collateralized ETH may face liquidation risk. But Longling Capital seems willing to take this risk and continue betting on ETH's future.

Bitcoin vs. U.S. Stocks: The Divergence in Rebound

In yesterday's market rebound, both the S&P 500 and the Nasdaq Composite Index closed with bearish candles, indicating a downward closing performance, while Bitcoin (BTC) achieved a 5.5% rebound. This divergence has drawn attention to the dynamics between cryptocurrencies and traditional stock markets. So, why was Bitcoin able to rise against the trend in the same market environment while U.S. stocks performed weakly? BitMEX founder Arthur Hayes explained on social media:

• Bitcoin (BTC): A global 24/7 market, trading is unrestricted, cannot be inflated, and failure means bankruptcy or liquidation, with no national treasury relying on its rise;
• Stock Market: Trades only at specific times, with limited participants; although stocks cannot be inflated, if they fail and have political backing, they may receive assistance. U.S. fiscal revenue is directly related to stock market performance, so the stock market often receives policy support during crises.

Hayes believes that Bitcoin represents a true free market, while the stock market is subject to policy intervention. Therefore, during a fiat currency liquidity crisis, Bitcoin prices often lead the stock market down and also lead the stock market rebound. This perspective provides a new insight into understanding the differences between cryptocurrencies and traditional financial markets.

Conclusion

Yesterday's market crash undoubtedly posed a significant challenge for investors. However, as demonstrated by Ark Invest, Ming Cheng Group, and Longling Capital, crises often harbor opportunities. These institutions chose to "buy the dip" during market downturns, reflecting their firm belief in the long-term value of tech stocks and cryptocurrencies.

Looking ahead, market trends remain full of uncertainty. Investors following in the footsteps of these institutions must carefully assess their risk tolerance and closely monitor market dynamics. In the turbulent waters of the financial market, only those investors who can discern opportunities and seize the moment will reap their rewards after the storm passes.

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