MSOS ETF’s 18 Days of Inflows, Plus Psilocybin Rescheduling?

In this episode of the Trade To Black Podcast, host Shadd Dales and co-host Anthony Varrell, powered by Dutchie, dive into two big stories making waves right now in cannabis and psychedelics. Noah Hamman, Founder & CEO of AdvisorShares joins the show to discuss the AdvisorShares Pure US Cannabis ETF (MSOS), which has now recorded 18 consecutive days of inflows totaling over $100 million. Shane Pennington, Partner at Blank Rome LLP, breaks down the DEA’s decision to advance a petition to reschedule psilocybin in the second segment.

With cannabis chatter intensifying, MSOS (ticker: MSOS) has become one of the most closely watched ETFs in the industry, and Hamman provides insight into what investors should know right now. For 18 straight trading sessions, MSOS has seen inflows as investors pile into US cannabis equities on the back of that rescheduling momentum.

Hamman says the surge indicates investor confidence returning to the cannabis sector, and he gives us the insider scoop on how he manages these inflows, allocates capital across top operators, and whether building up a cash position makes sense at this stage of the cycle. On cash balances, Hammon confirmed MSOS keeps roughly 2–2.5% on hand to maintain flexibility for new issuances or policy-driven catalysts.

The second half of the episode features attorney Shane Pennington, who outlined the significance of the DEA forwarding a petition to reschedule psilocybin to the Department of Health and Human Services. Pennington is widely regarded as one of the most qualified attorneys in the US on cannabis and psychedelic policy, and he’s part of the legal team behind the petition. The effort is being pursued under the Right to Try Act, which gives terminally ill patients access to breakthrough therapies.

We explore what this move really means, how the process works, and what the implications are for patients, researchers, and the broader therapeutic landscape. Pennington says that psilocybin’s case is cleaner than cannabis rescheduling, with stronger clinical trial data and a favorable legal record. If approved, terminally ill patients and veterans could gain access far sooner than expected. Pennington added that success with psilocybin could set precedent for other psychedelics such as MDMA.