A third psychedelics exchange-traded fund (ETF) is expected to be launched soon on the New York Stock Exchange Arca.

This exchange-traded fund is set to be different from the others since it will be actively managed which will be a key differentiator in comparison to the other two.

The third psychedelics ETF will be launched under the ticker symbol ‘PSIL’ and investors will be able to access a basket full of psychedelics stocks through this ETF.

Advisorshares, a provider of actively managed exchange-traded fund, has already filed a primary prospectus for the ‘Advisorshares Plant Medicine ETF’ which will majorly be investing in psychedelics companies.

By being actively managed, this ETF aims at replicating the performance of a passive index of securities usually achieved by weighing according to market capitalization or some other objective matrix.

The payment for active management which in practice is the acquisition and disposal of positions in psychedelics companies is wide in nature since it entails various methods of selecting companies.

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