Bloomberg Law
May 28, 2021, 8:17 PM

‘Altered Experience’ Fund Brings Psychedelics to U.S. ETFs (1)

Claire Ballentine
Claire Ballentine
Bloomberg News

Curious investors looking for new experiences in the $6.3 trillion U.S. exchange-traded fund market can now dabble in the world of psychedelic drugs.

The Defiance Next Gen Altered Experience ETF began trading Friday under the ticker PSY, offering exposure to firms involved in “the next generation of medicine, including psychedelics, cannabis and other psychedelic-derived treatments,” according to a statement.

Although a similar product launched in Canada in January, the Defiance fund will be a first for the exchange-traded fund industry in the U.S. This version will track the BITA Medical Psychedelics, Cannabis and Ketamine Index, which includes companies that ...

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