Pot ETF hits market amid growing legalization push
GOP lawmaker reveals his support of decriminalizing cannabis
California Republican Rep. Tom McClintock provides insight on a cannabis bill being evaluated by Congress on ‘Kennedy.’
Roundhill Investments has launched a new ETF on the CBOE BZX Exchange to provide investors with exposure to 24 companies in the cannabis sector, including U.S. multi-state operators.
CALIFORNIA CANNABIS MEGA-FACTORY EYES FEDERAL LEGALIZATION OF WEED
The Roundhill Cannabis ETF (WEED) invests in cannabis producers and distributors, cannabis-related technology companies and additional cannabis-related ancillary businesses.
|WEED||LISTED FUND TRUST ROUNDHILL CANNABIS ETF||15.04||+0.03||+0.23%|
The fund's top holdings by weight include Curaleaf Holdings, Trulieve Cannabis, Verano Holdings Corp., TerrAscend Corp., Cresco Labs Inc., Columbia Care Inc., Tilray Brands, Innovative Industrial Properties Inc. and Canopy Growth Corp.
|GTBIF||GREEN THUMB INDUSTRIES||16.4||-0.25||-1.50%|
|VRNOF||VERANO HOLDINGS CORP.||8.4||-0.09||-1.06%|
|CCHWF||COLUMBIA CARE INC.||2.65||+0.02||+0.76%|
|TLRY||TILRAY BRANDS INC.||5.41||-0.42||-7.20%|
|IIPR||INNOVATIVE INDUSTRIAL PROPERTIES INC.||164.08||-0.24||-0.15%|
|CGC||CANOPY GROWTH CORP.||5.73||-0.20||-3.37%|
"While publicly-listed cannabis companies have recently underperformed, we believe that the cannabis market may be entering an inflection point in terms of both profitability and regulatory momentum," Roundhill CEO Will Hershey said in a statement. "We wanted to provide investors with a comprehensive vehicle to invest in the space, and at a net expense ratio of only 0.59%, we believe that WEED has the potential to become the benchmark for the entire sector."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The Roundhill Cannabis ETF's launch coincides with 4/20, commonly known as the unofficial annual cannabis holiday. Cannabis is legal in 37 U.S. states and Washington D.C., with positive regulatory momentum expected to continue in coming years.