2017 was a crazy year for ETFs in the US with $476.1 billion in fresh inflows pushing the total AUM to $3.4 trillion. There were 275 new fund launches and 128 closures in the year. For context there are just about 30 odd ETFs listed in India.
Things got a little crazier towards the tail end of 2017. ETFMG Alternative Harvest ETF, which primarily tracks marijuana stocks was created. The ETF was created on December 26th, and as of 9th Jan the total AUM was $344 million.
This was not the first marijuana ETF to be created. In April 2017, Horizons Medical Marijuana Life Sciences ETF was launched in Canada which had $828 million AUM.
Looks like good times are ahead for these investors.
