This week the first psychedelic stock ETF (exchange-traded fund) will begin trading on the Canadian NEO exchange under the ticker PSYK on January 27. The base currency will be Canadian dollars. The ETF will be managed by Canadian financial services company Horizons ETF Management and it will be focused on the emerging psychedelics opportunity led by life science and pharmaceutical companies. Horizons noted that a growing body of clinical research has demonstrated the potential use of psychedelic compounds, such as psilocybin and ketamine, as a treatment for mental illness, depression, addiction, post-traumatic stress disorder (PTSD), and other medical conditions. As a result, there is a growing number of public companies listed in North America that are focused on the development of therapeutic solutions using psychedelics.
Green Market Report, 01/25/2021 08:31:00
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