“We have to recognize that SPACs have eaten the normal IPO market”: Bullpen Capital Founder & General Partner

The city will propose to only allow what it deems as professional investors with assets of more than HK$8 million ($1.4 million) to participate in both the primary and secondary market of SPACs.

Wall Street is launching a third exchange-traded fund that invests in SPACs, accelerating a rush to cash in on investors' enthusiasm for blank-check firms, the Wall Street Journal reports.

The frenetic app downloading preceded scores of media reports that signups for the service did not go smoothly.