Investors looking for exposure to the burgeoning cannabis sector but wanted to avoid selecting stocks themselves now have an additional choice, but with a slight twist this time compared to other existing ETFs. We recently discussed in our article "2 New Marijuana ETFs Coming" that Evolve ETFs was filing to launch an actively managed marijuana ETF. Turns out Redwood was able to get a head start by launching its actively-managed ETF in Canada this week.
Redwood Asset Management, a subsidiary of Purpose Investments (founded by Canadian ETF pioneer Som Seif in 2013) launched