Subversive Capital Advisor is set to launch its sixth exchange-traded fund (ETF) named Subversive Cannabis ETF LGLZ on the Cboe BZX Exchange, which is operated by Cboe Global Markets, a key global venue for listing exchange-traded products.
Targeting long-term capital appreciation, the LGLZ Fund will invest a minimum of 80% of its net assets in global cannabis sector securities, with a special emphasis on U.S. operating firms. According to a press release, the management fee for the fund is 0.75%.
Addressing the trajectory of cannabis businesses in the U.S., Christian H. Cooper, who will act as the ETF's portfolio manager stated, "We do not believe a Congress this politically divided will meaningfully act on cannabis at the federal level. However, we do believe a regulatory move to a Schedule III status changes the trajectory for this business in the United States without Congressional action."
President Nixon classified cannabis as a Schedule 1 drug in 1970. Now, the Department of Health and Human Services (HHS) is proposing its reclassification to Schedule III. The DEA is evaluating this shift.
"It is time for companies in this space to be normalized and to have access to the same resources and opportunities for profitability as businesses in other industries," said Cooper, highlighting the therapeutic effects of THC as an alternative to opioid use in the U.S.
"A lot of that relief will come with 280E tax reform. And we believe it is time for cannabis to be accessible nationwide without fear of repercussion."
In light of these developments, the Benzinga Cannabis Capital Conference on September 27-28 in Chicago aims to address this evolving regulatory framework. All information is available at bzcannabis.com
Related News:
- August's Top-Performing ETF Is Marijuana-Related: Relaxed Federal Cannabis Laws Coming?
- Rescheduling Cannabis: What Are The Implications For MSOs, Tax Rule 280E, FDA And Pharma?
- How Will HHS Recommendation To The DEA Impact Cannabis Brands? Find Out At This Leading Cannabis Finance Conference
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The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!