The Psychedelics Sector Might Soon Get Its First ETF
Financial services company Horizons ETFs Management filed documents with the Ontario Securities Commission for a psychedelics ETF, which is expected to go live on Jan. 15.
The ‘Horizons Psychedelic Stock Index ETF’ would become the first ETF offering dedicated exposure to the psychedelics sector.
The firm, which manages the Horizons Marijuana Life Sciences Index ETF (TSX: HMMJ) (OTC: HMLSF) among over 93 separate ETFs, has yet to make a public announcement on the launch.
Psilocybin Alpha published a review of the filings, which state that the ETF intends to invest in companies from the psychedelics industry engaged in legal activities with psychedelic drugs.
The ETF is expected to list under the symbol ‘PSYK’ on Canada’s NEO Exchange. It will be a passive ETF, following the North American Psychedelic Stock Index from Solactive, a German financial indices provider.
Beckley Psytech Raises $19M For 5-MeO-DMT Research
Beckley Psytech, the for-profit arm of the Beckley Foundation, raised £14 million (approximately US$19 million) in equity funding.
The proceeds will be used in part to finance a drug development pipeline for 5-MeO-DMT, a psychedelic compound naturally produced by the Sonoran Desert Toad, which has chemical similarities to DMT. The company …