It’s called the Horizons Medical Marijuana Life Sciences ETF (TSE: HMMJ).
The cannabis stock ETF trades on the Toronto Stock Exchange, which has become a hotbed for cannabis stocks.
Access my complete research on this 31% growth industry (click here).
The cannabis stock ETF has holdings based upon the North American Medical Marijuana Index, and the ETF began trading with positions in 14 stocks.
It’s worth noting that only three U.S. companies are included in the cannabis stock ETF.
That’s likely because U.S. laws are inconsistent. For example, cannabis is 100% legal in Colorado. Yet in neighboring Wyoming, it’s completely illegal.
A total of 28 U.S. states have legalized cannabis for either medical or recreational use.
Yet in Canada, cannabis is 100% legal for medical use. Its government is working on legislation that would make recreational use completely legal in 2018.
That will make Canada the first G7 nation to fully legalize pot. And it’s creating a huge growth industry.
That’s why this ETF is primarily investing in Canadian stocks.
News of this first cannabis ETF is HUGE for the sector. It’s going to make the entire sector more accessible to investors. And that should help increase demand and interest in pot stocks.
My upcoming briefing will reveal everything you need to know about investing in cannabis stocks.