It may not be the American Dream per se, but the universe of cannabis exchange-traded funds got much more American Wednesday with the debut of the AdvisorShares Pure US Cannabis ETF (NYSE: MSOS).
What Happened: It was revealed late last month that AdvisorShares, one of the largest issuers of actively managed ETF, was planning an imminent launch of MSOS, in effect bringing more stars and stripes to the cannabis ETF landscape.
With the debut of MSOS, there are now 10 weed ETFs trading in New York, including leveraged fund, but MSOS is the first with a distinctly American feel.
Why It’s Important: The new AdvisorShares ETF focuses on multi-state operators, or MSOs. Those are U.S.-based marijuana producers that are thriving while their …