On Friday, Defiance ETFs launched the
Defiance Next Gen Altered Experience ETF ($PSY), the first psychedelic ETF to be listed in the U.S. $PSY will give investors exposure to companies involved in the development of the next generation of medicine, including psychedelics, cannabis, and other psychedelic-derived treatments.
Mental illnesses are on the rise, and existing medications have been found wanting. A staggering 30% of depression patients do not respond to any currently available treatment. Research budgets for psychiatric medicine in large companies have fallen by 70% in 10 years, as confidence wanes that more investment in the same direction will produce improved results.