Hi there,
I’m looking to get some exposure to the up and coming cannabis industry in the States. This would really differentiate Freetrade from the other free trading platforms.
Would it be possible to get at least one of the following NYSE symbols on the platform:
Some of the underlying stocks would be good additions as well.
Kind regards
Andrew Morton
Sadly it won’t happen any time soon.
ETFs (and their manufacturers) are required by European law to create certain legal disclosure documents for retail investors to have sight of pre-sale.
Most US ETF providers have little incentive to jump these regulatory hoops for sale into Europe so simply don’t bother.
Without this/these documents they can not be legally sold this side of the pond.
There is often a dispute about whether or not this position will change - but so far (to the best of my knowledge) no one has managed to find a loop hole or work around. (With the exception of Abra who technically/legally makes you a synthetic so you don’t buy the actual share).
Your best bet is to buy the underlying holdings or hope that an iShares/vanguard/Boost/WidomTree/xTrackers/DWS/Lyxor (or any European ETF producer) sees sufficient business here and provides a similar product. However they may not legally be able to because of various European States’ laws. No provider wants to run the risk of reputational damage… yet.
Have a look at Medical Cannabis and Wellness UCITS ETF - CBDX - USD & CBDP - GBP listed on the London Stock Exchange.
Ian,
Appreciate the digging around and dissemination of information.
However, if you’re going to dig up multiple old threads please make sure you’re adding to them and not just copying and pasting responses from other threads.
Agreed. CBDX and CBDP turned up on the LSE in January this year. Good spot.
Looks like there’s a few more. FLWR (IE00BJXRZ273 ) for example, which it looks like you can now buy over on Wombat Invest (if you’re so inclined)
FLWR has 25% of index in life science and no marajuana