Cathie Wood sees these 2 trends as the next big thing after electric vehicles

Ark Invest’s Cathie Wood said digital wallets and genomics are the next two biggest disruptive trends after Tesla and electric vehicles.

“We’re really excited about digital wallets,” Wood said Tuesday on CNBC’s “The News with Shepard Smith.” “We really think these digital wallets and two-sided marketplaces, merchants and consumers … will take over much of the role that banks play today.”

Wood – CIO and CEO of Ark Investment Management – has made a name for himself by investing in “disruptive innovation” stocks. According to FactSet, Wood’s flagship fund, ARK Innovation, has poured more than $ 16.7 billion into the fund in the past year.

Wood has big bets on names like Square and PayPal, which are dominating the digital wallet space. Square is the second largest stake in Ark Innovation, representing more than 7% of the ETF.

In China, Wood said WeChat Pay and AliPay are the main players.

‘It will be digital, it will be mobile. A small branch in your pocket, ”Wood said. “We will have all kinds of financial services available through them, including loans, debit cards, credit cards, buying stocks, buying bitcoins.”

Elsewhere, Wood said the genomics room is also set to reach the escape rate.

“DNA sequencing is the first to introduce science to healthcare decision-making,” said Wood. “We can honestly say that more than half of all health care decisions so far have been made in part on the basis of guesses or experiences. Now we will have the data.”

ARK’s Genomics ETF has big bets on Physical Sciences, which make up nearly 5% of the ETF, and Invitae. CRISPR Therapeutics is another large holding in the ETF.

“We will be able to cure diseases that we never thought we could cure, including cancer,” Wood said.

The shares of ARK Innovation are up 2.5% this year and the shares of ARK Genomic Revolution are up less than 1% in 2021.