Proposed US ETF Would Track Flowering Marijuana Market

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An investment company is making plans to launch what could be the first exchange-traded fund to profit on marijuana.

The Emerging AgroSphere ETF would give investors an opportunity to buy a group of companies making prescription drugs using cannabis extracts, selling hemp derivatives and other related stocks, fund backer ETF Managers Group LLC said in a filing with the U.S. Securities and Exchange Commission last week.

More than two dozen U.S. states have legalized some form of marijuana for medical or recreational use, though the drug remains illegal at the federal level.

Source: 420 Intel – United States

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