Fourth Canadian Marijuana ETF to Begin Trading This Week

Photo by Shane Rounce

The marijuana sector continues to expand in the ETF market, with the country's fourth cannabis-focused exchange-traded fund set to begin trading this week, according to The Globe and Mail.

Evolve Funds Group Inc. received regulatory approval late this week to launch the Evolve Marijuana ETF, a fund that will invest in its own actively managed portfolio comprising companies listed domestically and globally with business activities in the recreational and/or medical marijuana industry.

With the ticker SEED, the fund is expected to begin trading on Monday on the Toronto Stock Exchange.

"We believe the international cannabis industry is poised to exceed $30-billion by 2021, which would be a 60-per-cent compounded annual growth rate in the next few years," Raj Lala, president and CEO of Evolve ETFs, said in a statement.

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