On March 11, 2025, global markets plunged, but some investors and institutions chose to buy at the lows. In the turbulent waves of the financial markets, investors often face an eternal challenge: how to capture opportunities amid market volatility. On March 11, 2025, global markets experienced a sudden crash, with both U.S. stocks and the cryptocurrency market being hit hard. However, as the saying goes, "Be greedy when others are fearful," some astute investors and institutions chose to "buy the dip"—purchasing assets at low prices in anticipation of a future rebound. This article will delve into which institutions and investors quietly bought the dip during yesterday's market crash and explore their underlying investment logic.

Ark Invest: A Firm Believer in Tech Stocks

When tech stocks took a beating, Ark Invest, led by Cathie Wood, once again demonstrated its unwavering confidence in innovative technology. According to The Block, as Coinbase's stock fell by 17.6% on Monday, Ark Invest made a decisive move, purchasing 64,358 shares of Coinbase valued at $11.5 million. Specifically:

• The Ark Innovation ETF (ARKK) bought 52,753 shares, worth $9.4 million;

• The Ark Fintech Innovation ETF (ARKF) bought 11,605 shares, worth $2.1 million.

In addition, Ark invested $9.6 million in Robinhood stocks while selling $20.6 million worth of Block stocks. On Monday, during the sharp U.S. market downturn, Ark Invest committed over $70 million, buying multiple stocks including Tesla, Palantir, Coinbase, AMD, Tempus AI, and Robinhood.

Ark Invest's actions were not coincidental. Since its inception, Ark has focused on investing in companies with disruptive innovation potential. Despite frequent market fluctuations, it has consistently believed that these companies will lead the future tech revolution. This latest move to increase its stake in Coinbase reflects Ark's long-term optimism toward the future of cryptocurrency and fintech. Currently:

• In the ARKK fund, Coinbase is the third-largest holding, with a 7.1% weighting, valued at approximately $375.1 million, trailing only Tesla and Roku;

• In the ARKF fund, Coinbase is the second-largest holding, with a 7.7% weighting, valued at around $65.7 million, second only to Shopify.

This allocation demonstrates Ark's high regard for Coinbase, believing that its leading position in the cryptocurrency trading space will continue to drive growth. Cathie Wood also made a market judgment: the current market is digesting the final phase of a rolling recession, which will give the Trump administration and the Federal Reserve (led by Powell) more policy adjustment room than investors expect. This could potentially push the U.S. economy into a "disinflationary boom" in the second half of this year. Wood believes that the Federal Reserve's monetary policy will become more flexible, and the market may be underestimating this potential economic rebound force.

Mingcheng Group: A Strategic Investor in Bitcoin

Meanwhile, Hong Kong-based Mingcheng Group, through its wholly-owned subsidiary Lead Benefit, once again showcased its strong interest in Bitcoin. According to Globenewswire, Lead Benefit purchased 333 bitcoins at an average price of $81,555 per coin, with a total investment of approximately $27 million. Previously, on January 9, 2025, the company bought 500 bitcoins at an average price of $94,375 per coin, investing about $47 million.

Mingcheng Group's investment strategy highlights its view of Bitcoin as a short-term investment tool. The company stated that purchasing Bitcoin aims to capture its potential appreciation and diversify its asset allocation. Additionally, the high liquidity of the Bitcoin market provides convenience for the company to quickly liquidate and support its core business—wet construction works when needed.

This investment decision reflects Mingcheng Group's optimistic outlook on the future of the cryptocurrency market. Despite Bitcoin's volatile price, it is increasingly attracting institutional investors as a global digital asset. Mingcheng Group's continued accumulation may signal its recognition of Bitcoin's long-term value.

Longling Capital: An Aggressive Player in ETH

In the cryptocurrency market, Longling Capital's moves have also attracted attention. According to Lookonchain, on March 11, Longling Capital withdrew 10,001 ETH from Binance, 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 about $112 million.

It is worth noting that Longling Capital previously made a profit of $33.67 million by "buying low and selling high" in ETH but currently has an unrealized loss of $28.78 million. Despite this, it chose to increase its stake in ETH during the market crash, showing confidence in ETH's long-term value. This move may be based on the optimistic outlook for ETH's application prospects in decentralized finance (DeFi) and non-fungible tokens (NFTs).

However, the risks should not be overlooked. Currently, Longling Capital's health factor on Aave is 1.82, with a liquidation price of $1,048. If the ETH price falls below this level, its pledged ETH may face liquidation risks. Yet, Longling Capital seems willing to take this risk and continue betting on ETH's future.

Bitcoin vs. U.S. Stocks: Differences in Rebound

In yesterday's market rebound, both the S&P 500 and the Nasdaq Composite Index closed with negative candles, showing a downward closing performance, while Bitcoin (BTC) achieved a 5.5% rebound. This difference has sparked attention to the dynamics between cryptocurrencies and traditional stock markets. So, why did Bitcoin rise against the trend while U.S. stocks remained weak in the same market environment? Arthur Hayes, the founder of BitMEX, explained on social media:

• Bitcoin (BTC): A global 24/7 market with unrestricted trading, no possibility of inflation, failure means bankruptcy or liquidation, and no national fiscal dependence on its price increase;

• Stock Market: Trades only during specific hours, with limited participants. Although stocks cannot be inflated, if they fail and have political backing, they may receive bailouts. The U.S. fiscal revenue is directly related to stock market performance, so stocks often receive policy support during crises.

Hayes believes that Bitcoin is a true free market, while the stock market is subject to policy intervention. Therefore, during fiat liquidity crises, Bitcoin prices often fall and rebound ahead of the stock market. This perspective offers a new way to understand the differences between cryptocurrencies and traditional financial markets.

Conclusion

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

The future market trend remains highly uncertain. Investors following in the footsteps of these institutions should carefully assess their own risk tolerance and closely monitor market dynamics. In the turbulent waves of the financial markets, only those investors who can see opportunities early and seize the right moments will be able to reap their own harvest after the storm.