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- New eToro CopyPortfolio comprises leading North American listed biotech companies specialising in medical marijuana
- CopyPortfolio re-opened due to popular demand
- Initial launch in September gained 1,000 investors in less than two weeks
Global investment platform eToro announces that it will reopen access to its Cannabis Care CopyPortfolio on Thursday 1st November to coincide with changes in the UK allowing specialist doctors to prescribe medical cannabis.
Investors in the Cannabis Care CopyPortfolio will get managed access to a group of leading biotech companies listed in North America specialising in medical cannabis.
Medical cannabis is a fast-growing industry following a series of regulatory changes which have increased access to marijuana. Growth in the global legal cannabis market is being led by the US and Canada, however, Europe is also following suit. The industry is projected to reach $57 billion worldwide by 2027*.
Yoni Assia, CEO and Co-founder of eToro, comments: “Despite the already impressive growth, many believe that the medical marijuana market is only just beginning to make its mark. The industry is expected to advance considerably in the next few years, as the legalisation of medical use around the world becomes more widespread and the number of adults living in legal use markets increases.”
Today’s news follows the initial launch in September which saw 1,000 clients invest in less than two weeks. The decision to re-open access to the CopyPortfolio follows significant demand from clients. It will close to new investors at midnight on the day that the CopyPortfolio reaches a total of 2,000 investors.
The Cannabis Care CopyPortfolio is managed by eToro’s Investment Committee. The CopyPortfolio currently invests in 10 companies, including businesses which grow medical marijuana, develop cannabis-based pharmaceuticals, and other companies involved in the sector.
Yoni Assia added: “Our aim is to make it as easy as possible for investors to access the assets they want. The demand for investment exposure to the rapidly growing medical cannabis industry is significant, as we saw with the popularity of this fund on launch. We’re pleased to be able to offer more investors access to this industry.
“Our clients value diversification. Medical cannabis is a volatile industry and our Cannabis Care CopyPortfolio allows investors to diversify their exposure to the sector.”
The CopyPortfolio carries a minimum investment level of $5,000, and sits alongside other market-themed CopyPortfolios available on the eToro platform, including CopyPortfolios for those wanting exposure to banks, big tech, cryptoassets, gaming companies, and genome engineering technology.
