First Psychedelics ETF Begins Trading On Canada’s NEO Exchange
TORONTO – Horizons Psychedelic Stock Index ETF is now listed on Toronto’s NEO exchange as ‘PSYK.’
PSYK will be the first exchange traded fund providing exposure to the emerging industry of medicinal psychedelics.
The ETF is managed by Horizons ETFs Management, a Canadian ETF firm that’s part of the portfolio of Mirae Assets. In 2017, Horizons released the Marijuana Life Sciences Index ETF (HMMJ), cannabis’ longest running ETF.
“PSYK will give investors exposure to the leading public companies undertaking this important research and development of treatments for the more than 700 million people globally that, according to the World Health Organization, suffer from some sort of mental illness, addiction or eating disorder,” Horizons ETFs CEO Steve Hawkins said.
PSYK is a passive ETF, meaning that it’s not actively managed. The ETF follows the North American Psychedelics Index, an index owned and operated by Horizons and Solactive AG, which aims to replicate the performance of North American publicly-listed life sciences companies that are involved in the psychedelics industry.
About the Author: HCN News Team
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