Ark’s Cathie Wood predicts these two trends will be the next disruptors

Digital wallets and genomics are the next big disruptive trends, according to founder and chief investment officer of Ark Investment Management Cathie Wood.

“We’re very excited about digital wallets, Square’s cash app and PayPal’s Vemno are leading the way here [in the US], in China it was WeChat Pay and AliPay,” Cathie Wood told CNBC on 13 April. 

“We really think that these digital wallets and two-sided marketplaces, merchants and consumers on both of them, are going to usurp a lot of the roles that banks play today.”

“We’re going to have all kinds of financial services available through them, including loans, debit cards, credit cards, bitcoin buying,” she added. Ark manages more than $50bn across seven US-listed ETFs. 

READ Ark’s Cathie Wood says bitcoin at $1tn ‘is nothing compared to where this ultimately will be’

She explained that in those sectors, as well as the electric car industry, costs have declined, making them an appealing investment. Within the genomics sector, she said DNA sequencing “is going to introduce science into healthcare decision making for the first time.” Crispr Therapeutics is one of the fund manager’s major holdings in this space. 

“Electric vehicle sales are exploding, we think they’ll go up 80% on average per year over the next five years,” Wood said. “The costs have dropped to a low enough level and the total cost of ownership is lower than that of gas-powered vehicles.”

READ Why Cathie Wood’s Ark ETF spooks UK fund managers: ‘I don’t want to be the one holding the bag’

The US star fund manager said last month that bitcoin is in its “prime time” and predicted demand from institutional investors will propel the cryptocurrency’s market cap beyond the $1tn market. 

To contact the author of this story with feedback or news, email Bérengère Sim

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