Since February 2019, the Ark Fintech Innovation ETF (NYSE: ARKF) is up over 100%. Meanwhile, the Financial Select Sector SPDR Fund (NYSE: XLF), which represents the traditional banking sector, is in negative territory over that time frame. That’s because fintech, short for financial technology, is overthrowing the traditional banking sector as Americans ditch big banks for cash apps and fintech innovations due to lack of trust in the government's control of the traditional banking system. In today’s Market Insights video, experts Ian King and Steve Fernandez discuss why fintech’s incredible growth is just getting started. Thousands of Americans could make a fortune during this unstoppable $34.4 trillion tech upgrade:
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About Ian King: Ian King is a senior analyst at Banyan Hill Publishing with over two decades of experience trading and analyzing the financial markets. His insights have been featured on Fox Business News, Investopedia, Zero Hedge and Seeking Alpha. He started out as a desk clerk at Salomon Brothers’ famed mortgage bond trading department, then moved on to credit derivatives at Citigroup. From there, he spent a decade trading options as head trader at a New York-based hedge fund. Today he is a weekly contributor to Smart Profits Daily and editor of two premium trading services at Banyan Hill Publishing.
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