SPACS Performance: The underlying SPACs' success dictates XKII.US's value. Positive news for these SPACs drives the ETF price up, while poor performance drags it down.

Merger Completion: Successful SPAC mergers propel XKII.US higher as the ETF holds the newly merged companies. Failed or delayed mergers negatively impact the price.

Interest Rate Changes: Rising interest rates can decrease the attractiveness of growth-oriented SPACs held by XKII.US, potentially lowering its price. Conversely, falling rates may boost it.

Market Sentiment: Overall investor confidence and risk appetite influence XKII.US. A bullish market favors speculative investments like SPACs, while a bearish market causes investors to sell, reducing demand.

Regulatory Changes: New SPAC-related regulations can affect XKII.US's holdings and investor sentiment, leading to price fluctuations. Stricter regulations could dampen enthusiasm, while relaxed rules might increase it.

Economic Conditions: Strong economic growth often supports SPACs as companies look to go public. Economic downturns can make SPACs riskier, causing XKII.US to decline.