The first exchange-traded fund with a marijuana focus, the Horizons Medical Marijuana Life Sciences ETF, has been conditionally approved for listing by the Toronto Stock Exchange.
It is scheduled to debut on April 5 under the ticker symbol HMMJ.
According to Horizon ETF Management, it will be the first ETF “that offers direct exposure to North American-listed stocks that are involved with medical marijuana bioengineering and production.”
The marijuana industry has seen surging growth of late. Sales grew 30% in 2016, according to Arcview Market Research, and they are seen tripling in four years.
The growth comes as more and more people approve of legalizing marijuana, including for recreational purposes.
Source: MarketWatch
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