ARK Investment Management LLC (ARK), a New York-based adviser focused solely on disruptive innovation, today launched the ARK Fintech Innovation ETF (ARKF)–an ETF that capitalizes on the burgeoning fintech industry.
ARKF is the firm’s fifth actively managed exchange-traded fund (ETF), and seventh ETF overall. The new fund will begin trading publicly on the New York Stock Exchange Arca on Monday, February 4.
ARKF invests in equity securities of companies that ARK believes are shifting financial services and economic transactions to technology infrastructure platforms, ultimately revolutionizing financial services by creating simplicity and accessibility while driving down costs.
“Powered by innovations within mobile, artificial intelligence, and blockchain technology, companies within fintech are working to disintermediate or bypass incumbent financial players and challenge traditional institutions by offering new solutions that are better, cheaper, faster, and more novel and secure,” stated ARK’s Founder and Chief Executive Officer, Catherine Wood.
“Fintech reimagines the generation, transfer, and storage of value in today’s increasingly digital economy, and its impact will extend across every industry. Through facilitating peer-to-peer transfers, gifting, intermediary products, and other non-GDP related economic activity, the companies in ARKF, in our view, will touch more than the $80 trillion in GDP today,” Wood added.