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The first-ever psychedelics ETF will launch next week, backed by a Canadian fund manager

The first-ever psychedelics ETF will launch next week, backed by a Canadian fund manager

FILE - in this Aug. 3, 2007, file photo magic mushrooms are seen in a grow room at the Procare farm in Hazerswoude, central Netherlands.
PETER DEJONG/ASSOCIATED PRESS



Canada-based Horizons ETF Management is launching the first-ever psychedelics ETF.



The Horizons Psychedelic Stock Index ETF (PSYK) will begin trading on the NEO exchange next Wednesday.



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The first-ever psychedelics ETF will begin trading on the Canadian NEO exchange next Wednesday, giving investors exposure to publicly-traded companies focused on the development of therapeutic solutions that utilize psychedelics. Canada-based Horizons ETF Management announced Friday that it filed its final prospectus to launch the Horizons Psychedelic Stock Index ETF (PSYK)."PSYK will be the world's first exchange traded fund ("ETF") focused on the emerging psychedelics opportunity led by life science and pharmaceutical companies," Horizons ETFs said Friday.Small studies have found that psychedelic compounds, such as psilocybin, when administered in a clinical setting, have the potential to reduce symptoms of anxiety, depression, addiction, and post-traumatic stress disorder.

PSYK will track the North American Psychedelic Stock Index, which is owned and operated by Horizon ETFs. German-based Solactive AG is the independent calculation agent for the index.
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