Bitcoin & Marijuana ETFs – How To Invest
What do bitcoin and marijuana have in common? You might be able to think of more than one answer to that question, but here’s the most salient for investors: Neither is available in an ETF wrapper in the United States.
That’s not too surprising. Bitcoin has only recently entered mainstream consciousness and has a reputation for being a volatile, unregulated asset. Meanwhile, marijuana, while gaining acceptance in some states, is still illegal to possess, according to federal law in the United States.
In that context, it’s not a shock that there’s no bitcoin or marijuana exchange-traded products listed on U.S. exchanges―at least not yet―though it’s not for want of trying.
Like the bitcoin ETF, a marijuana ETF has yet to be listed in the U.S., though the Emerging AgroSphere ETF is in the pipeline. However, that fund may have a tough time getting approved―according to Steven Hawkins, president and co-CEO of Horizons ETFs Management―because of the illegality and stigma associated with marijuana in the U.S.
Horizons is primarily a Canadian ETF company, with 77 strategies listed in the country, including the Marijuana Life Sciences Index ETF (HMMJ), which trades on the Toronto Stock Exchange.
After A Brief Pop, HMMJ Falls After Its Debut…
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