ETF investors who have been clamoring for a good way to get in on the cannabis trend have largely been unserved. There’s the recently launched Horizons Marijuana Life Sciences ETF (HMMJ) but that only trades on the Toronto Stock Exchange. That’s about to change as the ETFMG Alternative Agroscience ETF is scheduled to begin trading later in December.
Just don’t call it a new fund. The Alternative Agroscience ETF, the first U.S. traded fund dedicated to investing in marijuana cultivators and distributors, is actually going to be a complete rebuild of an existing fund.
The Marijuana ETF is still about a month and a half away, but here’s what we know about it so far. It will track the Alternative Agroscience Index, an index that invests in companies that are primarily engaged in the legal cultivation, production and distribution of cannabis, pharmaceutical companies that manufacture or market cannabinoid-related