Global X is looking to roll out a cannabis exchange traded fund of its own. A recent filing with the Securities and Exchange Commission (SEC) provides details about the Global X Marijuana ETF. That ETF will track Solactive AG’s Marijuana Index.
“In order to be eligible for inclusion in the Underlying Index, a company is considered by the Index Provider to be a Marijuana Company if it derives at least 50% of its revenue, operating income, or assets from the marijuana industry value chain,” according to the SEC filing.
Currently there are 11 U.S. states where recreational marijuana is legal: Alaska, California, Colorado, Maine, Massachusetts, Michigan, Nevada, Oregon, Vermont, Washington, and Washington D.C