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ARK Invest has had quite the 2021.  Since the beginning of the year—underpinned by unprecedented trading volumes and retail activity—ARK has seen its assets under management soar, buoyed by its bets high-growth tech stocks. Many of the names ARK has backed overlap with the stocks that have become darlings among the Wall Street Bets crowd. Indeed, ARK has grown into a heavy-hitter on Wall Street, with the Wall Street Journal referring to founder Cathie Wood as having on of "Wall Street's hottest hands." The latest few trading sessions, whoever, the firm has experienced a reckoning. The firm's Ark Innovation fund—which includes Tesla, Square, and Silvergate—has fallen sharply past the overall market, as The Journal noted. The $23 billion fund is down more than 30% off its highs.  On this episode of The Scoop, Brett Winton—the firm's head of research—breaks down the firm's insurmountable rise, the recent market volatility and macro backdrop, Wall Street Bets and the explosion in retail trading, and the big ideas within the crypto and bitcoin that ARK finds interesting.  This episode is brought to you by our sponsors Bakkt and Kraken Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Visit Bakkt.com for more information Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today.