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AdvisorShares launches PSIL, a Psychedelics ETF

AdvisorShares, a leading sponsor of actively managed exchange traded funds (ETFs), today announced the launch of the AdvisorShares Psychedelics ETF. PSIL invests in the emerging psychedelic drugs sector, offering exposure to biotechnology, pharmaceutical, and life sciences companies leading the way in this nascent industry.PSIL portfolio manager and chief operation officer of AdvisorShares Dan Ahrens said, "We believe that by investing in select companies in the psychedelics space can provide a compelling long-term investment opportunity, however, this is also an area of the marketplace in its early innings. We feel that our active management and specialized approach can potentially help investors capture the early growth potential of psychedelics and its prominent promise on therapeutics and medical fields.”Ahrens brings a wealth of experience in active management, including his time as the portfolio manager for AdvisorShares Pure US Cannabis ETF (MSOS), the AdvisorShares Vice ETF (VICE), the AdvisorShares Restaurant ETF (EATZ). the AdvisorShares Hotel ETF (BEDZ). The latter two both launched in June of 2021.Ongoing and growing research has shown that various psychedelic substances offer promising medical and therapeutic potential for treating mental health issues and neurological disorders. PSIL concentrates its portfolio on companies deriving the majority of their net revenue or devoting the majority of their assets to psychedelic drugs.“We believe that delivering this strategy in an ETF structure with daily transparency, intraday liquidity and operational efficiency provides an ideal way for advisors and investors to access this burgeoning market,” added Noah Hamman, chief executive officer of AdvisorShares. “As we continue to navigate highly specialized areas of the marketplace, we also remain steadfastly committed to providing ongoing investment education for our ETF shareholders, prospective investors and the investment community at large.”For more information visit www.advisorshares.com.For more news, information, and strategy, visit ETF Trends.

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