Psyched: First Psychedelics ETF Debuts; Hawaii, Florida and Connecticut Eye Psilocybin Legalization; Psyence Goes Public

Financial world news, market analysis, investment scam prevention tips and more ✔️ Learn all there is to know about the asset management industry. This magazine is crafted specifically for those who are interested in diving into the global asset management world. First Psychedelics ETF Debuts On NEO ExchangePsychedelics’ first exchange traded fund went public last Wednesday. The Horizons Psychedelic Stock Index ETF is now listed on Toronto’s NEO exchange under the symbol ‘PSYK’, and managed by Horizons ETFs Management. 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. Horizons’ criteria for choosing members of the index requires companies to be listed on a stock exchange in Canada or in the U.S. and be engaged in research, production or distribution of psychedelic compounds and medicines. Companies must have a minimum market cap of CA$25 million ($19.6 million) to qualify, and remain above the CA$20 million mark. PSYK is not a pure-play ETF. While most of the companies included in the index are biotech and life science businesses specialized in psychedelics, the ETF also includes some major pharmaceutical companies like Johnson & Johnson and AbbVie, which own ketamine (or analog) products in their portfolios. Hawaii and Florida Legislators Look To Legalize Psilocybin, Connecticut To keep reading about Psyched: First Psychedelics ETF Debuts; Hawaii, Florida and Connecticut Eye Psilocybin Legalization; Psyence Goes Public, Click on the link. Seoul, Korea
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