Little noticed in the annual August market slowdown were two fund closures that may signal an end to one of Wall Street’s hottest manias of the past few years: SPACs.
The Defiance Next Gen SPAC Derived ETF and the Morgan Creek – Exos SPAC Originated ETF shuttered last month, after struggling to maintain traction as the Federal Reserve’s monetary tightening weighs on risk assets and drains liquidity from a market once free-flowing with capital searching for a home.
