SUMMIT, N.J. – May 13, 2021 (Investorideas.com Newswire) ETF Managers Group (ETFMG(R)), leading exchange-traded fund issuer who brought investors MJ, the first U.S. listed and world’s largest global cannabis ETF, announced that the ETFMG U.S. Alternative Harvest ETF (NYSE Arca: MJUS) will begin trading today on the New York Stock Exchange. MJUS offers investors exposure to cannabis companies operating in the United States, including multi-state operators (MSOs) directly involved in the cultivation, production, marketing and distribution of cannabis or cannabis-related products.
MJUS is ETFMG’s second cannabis investment offering, joining the highly successful ETFMG Alternative Harvest ETF (NYSE Arca: MJ). MJ, which debuted in December 2017, has become a proxy for U.S. investors looking to invest in global cannabis with nearly $1.7 Billion assets under management.1
Currently, U.S. cannabis single and multi-state operators are only available to investors through second-tier, foreign exchanges, which are not widely accessible through U.S. brokerages. MJUS’s unique investment strategy rivals that of its competitors by offering investors a way to benefit from the continued growth of the U.S. cannabis industry and the leading companies directly involved in U.S. cannabis-related activities.
“We are especially proud to be bringing yet another cannabis product to investors, specifically an ETF that captures one of the greatest untapped areas of growth potential in the industry,” says Sam Masucci, Founder and CEO of ETFMG.
As the largest cannabis market globally, legal cannabis sales in the U.S. exceeded $17.5 billion in 2020, representing a 46% increase over 2019’s $12.1 billion of sales.2 With several factors driving growth in the U.S., including more states legalizing cannabis and more consumers entering the market in existing legal markets, the rapid expansion of the U.S. cannabis industry is expected to continue and ultimately generate $85 billion in sales by 2030.3
“With voter support for federal legalization initiatives at an all-time high, combined with the positive economic impact cannabis legalization would provide through job creation and increased tax revenues, it is widely anticipated that the current administration will pass federal legislation providing meaningful cannabis reform, which would greatly benefit existing U.S. cannabis related businesses,” says Jason Wilson, ETFMG Cannabis Research and Banking Expert.
MJUS seeks to achieve its investment objective by investing in cannabis companies within the Prime U.S. Alternative Harvest Index that derive at least 50% of their net revenue in the United States and in derivatives that have economic characteristics similar to such securities.
For more information on MJUS, visit: www.etfmg.com/MJUS
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KEY INDEX FACTS Index Provider Prime Indexes No. of Holdings 33 Index Ticker USHRVS
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