On May 28, 2021 Defiance ETFs launched the Defiance Next Gen Altered Experience ETF, $PSY, which will be the first ever psychedelic ETF in the United States. This will allow investors to take part in the development of breakthrough treatments for mental health issues using psilocybin treatments, cannabis, and other psychedelics.
Defiance ETF was founded in 2018 and has since been focused on thematic investing. Their, “suite of rules-based ETFs allows retail and institutional investors to express a targeted view on dynamic sub-sectors that are leading the way in disruptive innovations.” They invest in disruptive companies who haven’t given up on the treatment of mental health.
According to Defiance ETF, “One in ten people currently suffer from a psychopathology and over 700 million people are affected globally with some sort of mental illness, addiction or eating disorder.” Sadly, 30% of people have no response to the treatments currently available on the market. Regardless of this unmet need, the biggest pharmaceutical companies are lowering their psychiatric medicine budgets by 70% after decades of no progress in the area.
The answer for these individuals suffering from mental health issues without relief may be a scientific breakthrough in the use of psychedelics and ketamine as a controlled treatment for these exact health issues. Scientists, drug companies such as Johnson & Johnson, and even the FDA are beginning to change their tune about the use of substances like psilocybin and the imposing regulations on them.
According to Claire Ballentine, “The market for psychedelic drugs is worth only about $2.8 billion but is growing rapidly and expected to reach $7.6 billion by 2028, according to Data Bridge Market Research.”
