ETF Managers Group (ETFMG) of Summit, NJ, a provider of exchange-traded funds who began the world’s first cannabis ETF, announced today it is expanding its global portfolio to include more U.S. cannabis multi-state operators.
Founded in 2014, with a goal of developing innovative ETFs, the investment group created its globally focused “ETFMG Alternative Harvest ETF” (NYSE Arca: MJ). The first-of-its-kind portfolio that covers the international cannabis industry will now offer greater exposure to cannabis companies operating in U.S. That includes American MSOs directly involved in the cultivation, production, marketing and distribution of cannabis or cannabis-related products.
The company’s December schedule of investments shows ETFMG’s seeing profits in Canada’s cannabis industry, while remaining reticent about investing in the still regulatory-plagued U.S. industry. The firm’s investment portfolio includes heavy hitters in Canadian cannabis like: Aurora Cannabis, Auxly Cannabis Group, Canopy Growth, Charlottes Web Holdings, Cronos Group, High Tide and Sundial Growers.
The company’s U.S. investments were previously spread across areas of the cannabis industry free of legality issues, like pharmaceuticals, biotechnology, software, machinery, chemical companies like Scotts Miracle-Gro and specialty retailing firm like hydroponics supplier, GrowGeneration. New York-based Tilray Brands, a global cannabis company incorporated in the United States, was among its sole cannabis-lifestyle investments. The company is now turning to investment in U.S. growers and its world-leading cannabis industry
American cannabis ready for investment
“With bipartisan support for federal cannabis reform at an all-time high, and with key senators open to supporting moderate reform measures separate from legislation that provides comprehensive federal legalization, we believed now was the right time to add exposure to plant-touching U.S. companies,” says Jason Wilson, ETFMG cannabis research and banking expert.
The company previously offered the U.S. focused “ETFMG U.S. Alternative Harvest ETF” (NYSE Arca: MJUS) which will continue to be available for investors access to U.S. MSOs.
“The addition to MJ gives investors the opportunity to access the complete global cannabis industry,” says Wilson.