Canadian Weed ETF Passes Billion-Dollar Mark
- Toronto-listed fund’s CEO says growth exceeded expecations
- ETF has rallied 54% since Canopy’s Constellation deal
Photographer: James MacDonald/Bloomberg
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The first marijuana exchange-traded fund has reached a milestone that has as much to do with surging pot stocks as it does with investor inflows.
The Horizons Marijuana Life Sciences Index ETF’s total assets have grown to more than C$1 billion as shares rallied 124 percent since its April 2017 debut on the Toronto Stock Exchange. It’s the first cannabis-focused fund to break the billion-dollar mark. Known by its ticker HMMJ, the ETF has benefited from burgeoning investor demand for pot stocks.