Exchange-traded fund investors may soon be able to participate in Wall Street’s latest craze: initial public offerings with a twist.
The Defiance NextGen SPAC IPO ETF will primarily track shares of companies that listed on exchanges by merging with special purpose acquisition companies, rather than those that held a traditional IPO, according to a filing Friday with the U.S. Securities and Exchange Commission. The ETF will be passively managed and trade under the ticker SPAK.
