The Cannabis ETF gives investors a tool to invest in the legal marijuana and hemp industries.
"We are excited to expand THCX's footprint in the various cannabis industry sub-themes by including three companies whose businesses revolve around ancillary services and CBD-based consumer products," said Matt Markiewicz, Innovation Shares managing director.
"In particular, Valens, EnWave, and cbdMD all operate at the crossroads of science and technology which should appeal to investors who are looking for differentiated exposure outside of a traditional seed-to-sale story."
Listed on the NYSE Arca, THCX tracks the Innovation Labs Cannabis Index, a portfolio which rebalances on a monthly basis. The index consists of 36 stocks that are expected to benefit from the global cannabis market.
THCX is the first and only US-listed cannabis ETF to hold Valens, EnWave and Fire & Flower in the portfolio.
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