The New York Stock Exchange is getting its first weed fund – VICE News

The rapid rise in medical and retail pot sales in the U.S. has investors drooling, and soon they’ll be able to buy into a new basket of select weed stocks.

A subsidiary of the New York Stock Exchange launches trading on Dec. 26 for its first-ever marijuana fund, a major step for an industry that’s struggled to access mainstream U.S. financial instruments, even as Canadian markets have kicked off marijuana investment.

The Alternative Agroscience exchange-traded fund (ETF) is comprised of U.S. companies operating in states where marijuana is legal in various forms. They include cultivators, weed-related biopharmaceutical firms, as well as pesticide and fertilizer manufacturers whose products are used for growing.

Twenty-nine states and Washington, D.C., have legalized medical marijuana and eight states plus D.C. have recreational, but financial institutions have hesitated to enter the projected $8 billion industry in the U.S. Pot is still a federally controlled substance.

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