The issuer of the world’s largest pot ETF is embracing celebrities’ growing interest in cannabis, sponsoring a UFC fighter nicknamed the Boa Constrictor.
In a highly unusual move for a provider of exchange-traded funds, ETF Managers Group LLC has signed on as the official training sponsor of Alexey Oleynik, the ninth-ranked heavyweight in the Ultimate Fighting Championship, a mixed-martial arts organization. The issuer is best known for the ETFMG Alternative Harvest ETF, which has about $1.1 billion invested in cannabis-related companies.
Several recent tweets from Oleynik’s Twitter account show him training — and even mowing the lawn — in T-shirts emblazoned with MJ, the pot ETF’s ticker, and the logo of ETF Managers Group. While most tweets don’t reference ETFs beyond tagging that fund and including ETFMG’s Twitter handle, one post in March described the company as an “ETF heavyweight.
He’s really very cuddly !