A real growth fund: Summit firm’s cannabis-themed ETF is luring investors at exponential rate

As local policymakers continue to plant seeds for recreational and expanded medical cannabis in the Garden State, one New Jersey company is bringing in the green already.
Summit-based ETF Managers Group recently blazed a path to the seventh-fastest-growing exchange-traded fund, or ETF, with the country’s first ETF dedicated to stocks in cannabis-related companies. Just a month after its Dec. 26 launch, the assets under management in the investment fund grew from $5.7 million to $417 million.
Sam Masucci, CEO of the modest investment management company, indicated that this was nearly unprecedented; Wall Street financial behemoths are behind most of the country’s largest and fastest-growing ETFs.
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