For investors interested in the big picture, this is an interesting piece on the promise and peril of MM; the huge inflows to ETFs; the flipside of potential custodian jeopardy and the size and nature of potential speed bumps on the way to revolutionising pharmaceuticals.
"Already, the world's first pot fund, the Canadian Horizons Marijuana Life Sciences Index ETF (HMMJ), has gathered $713 million in assets in just over nine months of trading, though MJX’s rapid asset gathering could soon eclipse that figure."
"There are two marijuana ETFs trading in the U.S., the AdvisorShares Vice ETF (ACT) and the ETFMG Alternative Harvest ETF (MJX). MJX, in particular, has caught investors' attention: Though the ETF only began trading in its current form on Dec. 26, 2017, the ETF now stands at $273 million in assets.
So, what changed? Nothing. Despite MJX's overnight success, custodian fears haven't been laid to rest—not even close, according to sources. The possibility a custodian might yank support of MJX, or any marijuana ETF, is being discussed throughout the ETF industry.
This article results from conversations with more than a dozen knowledgeable industry sources, many of whom spoke to ETF.com only on condition of anonymity, given the sensitivity of the issue."
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