Pursuant
to Rule 17f-1 [17 CFR 270.17f-1]
1.
Investment Company Act File Number:
811-22310
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Date
examination completed:
December 16, 2019
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2.
State identification Number:
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AL
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AK
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AZ
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AR
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CA
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CO
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CT
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DE
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DC
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FL
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GA
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HI
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ID
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IL
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IN
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IA
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KS
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KY
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LA
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ME
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MD
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MA
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MI
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MN
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MS
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MO
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MT
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NE
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NV
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NH
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NJ
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NM
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NY
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NC
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ND
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OH
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OK
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OR
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PA
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RI
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SC
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SD
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TN
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TX
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UT
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VT
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VA
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WA
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WV
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WI
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WY
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PUERTO
RICO
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Other
(specify):
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3.
Exact name of investment company as specified in registration statement:
ETFMG
Alternative Harvest ETF (A Series of ETF Managers Trust)
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4.
Address of principal executive office (number, street, city, state, zip code):
30
Maple Street, Suite 2 Summit, NJ 07901
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Instructions
This
Form must be completed by investment companies that place or maintain securities or similar investments in the custody of a company
that is a member of a national securities exchange.
Investment
Company
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1.
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All
items must be completed by the investment company.
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2.
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Give
this Form to the independent public accountant who, in compliance with Rule 17f-1 under
the Act and applicable state law, examines securities and similar investments in the
custody of a company that is a member of a national securities exchange.
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Accountant
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3.
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Submit
this Form to the Securities and Exchange Commission and appropriate state securities
administrators when filing the certificate of accounting required by Rule 17f-1 under
the Act and applicable state law. File the original and one copy with the Securities
and Exchange Commission’s principal office in Washington, D.C., one copy with the
regional office for the region in which the investment company’s principal business
operations are conducted, and one copy with the appropriate state administrator(s), if applicable.
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THIS
FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT
SEC
2205 (11-03)
SEC’s
Collection of Information
An
agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays
a currently valid OMB control number. Filing of Form N-17f-1 is mandatory for an investment company that maintains securities
or similar investments in the custody of a member of a National Securities Exchange. Rule 17f-1 under section 17(f) of the Investment
Company Act of 1940 requires the investment company to retain an independent public accountant to verify the company’s securities
and similar investments by actual examination three times during each fiscal year. The accountant must prepare a certificate stating
that the examination has occurred and describing the examination, and must transmit the certificate to the Commission with Form
N-17f-1 as a cover sheet. The Commission uses the Form to ensure that the certificate is properly attributed to the investment
company. The Commission estimates that the burden of completing Form N-17f-1 is approximately 0.16 hours per filing. Any member
of the public may direct to the Commission any comments concerning the accuracy of the burden estimate of this Form, and any suggestions
for reducing the burden of the Form. This collection of information has been reviewed by the Office of Management and Budget in
accordance with the clearance requirements of 44 U.S.C. § 3507. Responses to this collection of information will not be kept
confidential.
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ETF
Managers Group
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30
Maple Street, 2nd Floor | Summit, NJ 07901
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T:
844. ETF.MGRS
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Management
Statement Regarding Compliance with Certain Provisions of
the Investment Company Act of 1940
December 16, 2019
We,
as members of management of ETFMG Alternative Harvest ETF (the “Company”), are responsible for complying with the
requirements of subsections (b)(1) and (b)(6) of Rule 17f-1, “Custody of Securities with Members of National Securities
Exchanges,” of the Investment Company Act of 1940. We are also responsible for establishing and maintaining effective
internal controls over compliance with those requirements. We have performed an evaluation of the Company’s compliance
with the requirements of subsections (b)(1) and (b)(6) of Rule 17f-1 as of July 31, 2019, and from April 1, 2019
through July 31, 2019.
Based
on this evaluation, we assert that the Company was in compliance with the requirements of subsections (b)(1) and (b)(6) of
Rule 17f-1 of the Investment Company Act of 1940 as of July 31, 2019, and from April 1, 2019 through
July 31, 2019, with respect to securities reflected in the investment account of the Company.
ETFMG
Alternative Harvest ETF (“MJ”)
/s/
John Flanagan
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John
Flanagan
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Principal
Financial Officer
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/s/
Samuel Masucci III
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Samuel
Masucci III
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Principal
Executive Officer
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REPORT
OF INDEPENDENT PUBLIC ACCOUNTANT
To
the Shareholders and Board of Directors of
ETFMG Alternative Harvest ETF
We
have examined management’s assertion, included in the accompanying Management Statement Regarding Compliance with
Certain Provisions of the Investment Company Act of 1940, that ETFMG Alternative Harvest ETF (the “Company”) (a
series of ETF Managers Trust) complied in all material respects with certain provisions of subsections (b)(1) and (b)(6) of
Rule 17f-1 of the Investment Company Act of 1940 (the “Act”) as of July 31, 2019, and for the period from April 1, 2019 to July 31, 2019. Management is responsible for its assertion about compliance with the requirements of
subsections (b)(1) and (b)(6) of Rule 17f-1 of the Act (the specified requirements). Our responsibility is to express an
opinion on management’s assertion about the Company’s compliance with the specified requirements based on our
examination.
Our
examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants
(“AICPA”). Those standards require that we plan and perform the examination to obtain reasonable assurance about whether
management’s assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination
involves performing procedures to obtain evidence about whether management’s assertion is fairly stated in all material
respects. The nature, timing and extent of the procedures selected depend on our judgment, including an assessment of the risks
of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained
is sufficient and appropriate to provide a reasonable basis for our opinion.
Included
among our procedures were the following tests performed as of July 31, 2019, and with respect to agreement of security purchases
for the period from April 1, 2019 through July 31, 2019:
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●
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Confirmation
of all securities held by institutions in book entry form with Wedbush Securities, as
well as any unsettled transactions as of July 31, 2019
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Confirmation
of all securities hypothecated, pledged, placed in escrow, or out for transfer with brokers,
pledgees, or transfer agents
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Reconciliation
of funds and securities to books and records of accounts maintained by the Company
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Confirmation
of all repurchase agreements and securities lending arrangements with brokers and agreement
of underlying collateral with Wedbush Securities’ records
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●
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Agreement
of 34 security purchases, 39 security sales, 49 in-kind subscriptions, and 14 in-kind
redemptions for the period from April 1, 2019 to July 31, 2019 from the books and
records of the Company to the broker confirmations.
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We
believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination
on the Company’s compliance with specified requirements.
In
our opinion, management’s assertion that ETFMG Alternative Harvest ETF complied with the requirements of subsections
(b)(1) and (b)(6) of Rule 17f-1 of the Investment Company Act of 1940 as of July 31, 2019, with respect to securities
reflected in the investment account of the Company is fairly stated, in all material respects.
This
report is intended solely for the information and use of management and the Board of Directors of ETFMG Alternative Harvest ETF
and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified
parties.
/s/WithumSmith+Brown,
PC
New
York, NY
December
16, 2019
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