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ETF Mangers Group LLC (ETFMG), a thematic ETF issuer, announced that ETFMG Alternative Harvest ETF (NYSE:MJ), cannabis ETF, will complete its global portfolio by offering exposure to cannabis companies operating in the United States which include multi-state operators (MSOs) directly involved in the cultivation, production, marketing and distribution of cannabis or cannabis-related products.
“We are excited to offer our investors exposure to the global cannabis industry through MJ, the world’s largest global cannabis fund. ETFMG is proud to be the one-stop shop for those interested in investing in cannabis with a suite featuring 2X long, 2X short, US – only or global exposure,” stated ETFMG CEO and founder, Sam Masucci.
Jason Wilson, ETFMG cannabis research and banking expert, stated, “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.”
The ETFMG U.S. Alternative Harvest ETF (NYSE:MJUS) will continue to be available for investors who want pure play access to U.S. MSOs. The addition of this exposure to MJ gives investors the opportunity to access the complete global cannabis industry.
“As the world’s largest global cannabis fund, MJ is well positioned to directly benefit not only from on-going cannabis reform in the U.S., but from the growth in cannabis sales that are being driven by legalization initiatives occurring around the world, all of which are expected to result in global cannabis sales growing from approximately $28 billion in 2021 to over $61 billion in 2026,” continued Wilson.
MJ tracks the Prime Alternative Harvest Index, designed to measure the performance of companies within the cannabis ecosystem benefiting from global medicinal and recreational cannabis legalization initiatives.
Photo by Tim Foster on Unsplash
