Cathie Wood’s ETF ARK with Bitcoin halved since the start of the year

$ARK Next Generation Internet ETF (ARKW.US)$ is down 54% from last year’s closing value.
This is an actively managed ETF that also includes GBTC (Grayscale Bitcoin Trust), as well as $Tesla (TSLA.US)$ , $Coinbase (COIN.US)$ , $Block (SQ.US)$ , $Zoom Video Communications (ZM.US)$ , $Shopify (SHOP.US)$ , and other stocks.
Its market price, after rising 300% between March 2020 and February 2021, lateralized until November 2021, then began a 68% descent that ended in late July.
The fact that historical returns especially of $ARK Innovation ETF (ARKK.US)$ deviate so far from those of the Nasdaq 100 index suggests that the ETF may have been subject to overly optimistic expectations in 2020, which led it to take off beyond measure thanks to a likely speculative bubble. Once this whirlwind growth was exhausted, attention to it waned, and when the speculative bubble burst, a kind of general stampede ensued.
However, it should not be forgotten that pure speculators like such volatile assets very much, because they potentially allow significant gains in a relatively short time. Therefore, it is not certain that a similar pattern may not occur again in the future.