Evolve Funds Group has filed its final prospectus to launch the Evolve Marijuana ETF, or SEED. Units of the fund have been approved for listing on the TSX, beginning Feb. 12.
SEED will actively invest in a mix of equity securities of issuers that are involved in the marijuana industry, both domestically and globally. In a release, Evolve Funds Group president and CEO Raj Lala predicts the cannabis industry could “exceed $30 billion by 2021, which would be a 60% compounded annual growth rate in the next few years.”
SEED is only one of the many ETFs that are sure to be tied to the cannabis industry. Already, on Feb. 7, Horizons ETFs filed its final prospectus to launch the Horizons Emerging Marijuana Growers Index ETF, which will begin trading on or about Feb. 14. That fund will be Canada’s first small-cap marijuana ETF.