Last Updated on 6th February 2020

The emerald isle is about to turn a whole lot greener, as Irish investors will soon have a groundbreaking new opportunity to invest in the rapidly-growing legal cannabis industry.

On Monday, January 13th, the Canadian investment group Purpose Investments is planning to launch the Medical Cannabis and Wellness ETF (exchange-traded fund). The fund will be listed in Germany, and open to investors from Ireland, Italy and the United Kingdom.

The Medical Cannabis and Wellness ETF will charge 80 cents for every €100 invested, and Purpose plans to invest in public companies in the legal ‘green market’ spanning cannabis, CBD and hemp market.

Purpose Investments also manages a total of $8 billion Canadian dollars of assets in Canada, among them the Marijuana Opportunities Fund, which is worth $34.2 million.

According to Jefferies equity research, the global legal cannabis market alone is expected to reach $50 billion over the next decade. However, other experts have predicted the market could be worth as much as $148 billion by 2026.