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U.S. investors are piling into an exchange-traded fund that tracks the Canadian pot industry as the country moves toward legalization and liquor producers show growing interest in selling pot.

The U.S.-listed US$436 million ETFMG Alternative Harvest ETF, known by its ticker MJ, has taken in about US$22 million in August, putting it on track for the largest monthly inflow since February. That asset growth has been fuelled by a 35 per cent surge in the fund’s price since Aug. 14.

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Pot stocks have been soaring amid Canada’s pending legalization of recreational cannabis on Oct. 17 and growing speculation that other industries will buy in. For example, Tilray Inc., a Canadian marijuana pharmaceutical maker, has more than tripled since it started trading on July 18.