Core Viewpoint - CrossingBridge Advisors has made a structural change to the CrossingBridge Pre-Merger SPAC ETF by designating cash creations and cash redemptions as the default payment method to reduce trading volatility and enhance liquidity for market makers and investors [1][2]. Group 1 - The adjustment aims to improve the trading experience for shareholders and maintain price stability relative to the Fund's net asset value (NAV) [2]. - David Sherman, Portfolio Manager and CIO of CrossingBridge Advisors, noted that the ETF's market pricing has shown a larger disparity from NAV than typical, prompting this responsive change [3]. - The CrossingBridge Pre-Merger SPAC ETF is actively managed and primarily invests in SPACs that have not yet completed a business combination, focusing on capturing the fixed income nature of pre-merger SPACs while emphasizing downside risk mitigation [3]. Group 2 - As of June 30, 2025, CrossingBridge managed over $4.0 billion, specializing in investment grade and high yield corporate debt with a focus on ultra-short and low duration strategies as well as credit opportunities [4]. - The firm's core philosophy emphasizes that "Return of Capital is more important than Return on Capital" [4].