May 14, 2021
Financial technology is one of the fastest-growing sectors in the market. It primarily adapts the way users use personal finance tools through the use of technology, such as payments apps, peer-to-peer transfers, digital wallets, and cryptocurrencies. The dominant companies in the industry are Paypal, Square, Venmo, and Apple, but broader exposure through an exchange-traded fund may mitigate one-off failures but still capture returns in the growing industry. Ark Fintech ETF ARKF has made a splash more recently as a fintech-focused fund holding Square and PayPal along with Shopify, Zillow, and Pinterest for long-term capital growth. Others like Ecofin Digital Payments focus on peer-to-peer transactions and digital currency. Other top ETFs include Amplify’s Transformational Data Sharing ETF and Global X Fintech ETF.
(New York)
FINSUM + Magnifi: Fintech is growing at a rapid pace and it is how a whole generation is learning to interact with markets. Broad exposure through an ETF is a great way to dive into Fintech.
Other news today: Here is When a New Fiduciary Rule Will Hit and Big Trouble for Tesla in China
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