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

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

“We’re very excited about digital wallets,” Wood said on CNBC’s “The News with Shepard Smith” on Tuesday. “We in actuality think that these digital wallets and two-sided market places, merchants and consumers…are going to usurp a lot of the position the banks play today.”

Wood — CIO and CEO of Ark Investment Management — has made a name for herself by investing in “disruptive innovation” extractions. Wood’s flagship fund, ARK Innovation, has seen more than $16.7 billion flood into the fund in the sometime year, according to FactSet.

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

In China, Wood rumoured WeChat Pay and AliPay are the major players.

“It’s going digital, its going mobile. A little bank branch in you’re pocket,” said Wood. “We’re usual to have all kinds of financial services available through them, including loans, debit cards, credit press cards, stock buying, bitcoin buying.”

Elsewhere, Wood said the genomics space is also set to hit escape velocity.

“DNA sequencing is common to introduce science into healthcare decision making for the first time,” said Wood. “We can honestly say that until now multifarious than half of all healthcare decisions were in some part made through guesses or experiences. Now we’re going to must the data.”

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

“We’re going to be able to cure diseases that we never thought it would be possible to cure, including cancer,” commanded Wood.

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