Wall Street is launching a third exchange-traded fund that invests in special-purpose acquisition companies,The hedge fund Morgan Creek Capital Management and the financial-technology company Exos Financial plan to launch the SPAC ETF on Tuesday, the companies said. The new Morgan Creek-Exos SPAC Originated ETF will trade under the ticker SPXZ and consist of a mix of firms that recently went public by merging with a SPAC plus shell companies that are still seeking startups to take public.
Morgan Creek Chief Executive Officer Mark Yusko is the former endowment head at the University of North Carolina, Chapel Hill, and Exos is run by former Credit Suisse Group AG CEO Brady Dougan. Credit Suisse isMorgan Creek and Exos are the latest companies trying to make money from SPACs, which go public and then have up to two years to merge with a company. Upon completion of a deal, that company gets the SPAC’s place on a stock exchange, allowing it to access everyday investors.
While SPACs are still a small part of markets, they have soared in popularity lately, attracting investors hopeful about popular themes such as electric vehicles and green energy. The creation of a third ETF underscores a sudden ubiquity, with people from the singer Ciara to the basketball great Shaquille O’Neal backing them.
Lol
iv_technicals Thanks. No need for an ISDA agreement this time around
حجره ورقه مقص 😂 M7mdAlkhamis
fintechfrank Something to steer clear of
Do you think this is what people really need right now?