The Swiss National Bank (SNB) has little modesty on the subject. In the first quarter, it thus doubled its holdings in Aurora, one of Canada’s leading cannabis producers, to 4.2 million shares, or €56 million, in the course of last Monday.
As the Swiss central bank, and thus the guarantor of economic development in Switzerland, the SNB also invests in the stock market. The SNB does not provide any information on the companies in its investment portfolio, except for those listed on Wall Street, since the SEC, the US financial market authority, requires a quarterly report from major investors .
The SNB’s investments are validated by the Swiss authorities, who therefore considered cannabis to be a haven, despite the tense situation among Canadian producers and record losses. An indication of the forthcoming outcome of medical cannabis in Switzerland?
What is the status of medical cannabis in Switzerland?
Medical cannabis is legal in Switzerland. However, its access remains complicated. In 2019. the Confederation has therefore decided to facilitate the access by allowing doctors to prescribe cannabis directly. However, Swiss production is very limited so far and is mainly based on imports.
In March, the Swiss Parliament authorized the cultivation of medical cannabis for Switzerland and export. The project has yet to pass the barrier of the Council of States, which was due to meet during the spring session on the subject before the coronavirus pandemic turned the agenda upside down. By placing its trust in Aurora, the SNB could thus be both the driving force behind national production and receive the fruits of this once production has been authorized.