Papers have been filed for the creation of the first ever exchange traded fund that invests in the marijuana industry. Regulators received an application for the fund, called Emerging AgroSphere ETF, which will invest in medical marijuana companies rather than track the drug as a commodity. The SEC has not yet approved the application, but it is expected to be approved.
Papers have been filed for the creation of the first ever exchange traded fund that invests in the marijuana industry. Regulators received an application for the fund, called Emerging AgroSphere ETF, which will invest in medical marijuana companies rather than track the drug as a commodity. “The fund will not invest in any companies that are focused on serving the non-medical marijuana market in the United States, Canada or any other country unless and until such time as the production and sale of non-medical marijuana becomes legal,” the applicant, ETF Managers Trust, wrote in its submission.