Investing
The First Blank-Check ETF Makes Its Trading Debut
- SPAK invests in SPAC-derived IPOs from previous 18 months
- SPACs have seen a record-breaking year in red-hot IPO market
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The first exchange-traded fund to track blank check companies will make its trading debut Thursday, giving investors a chance to make a concerted bet on one of the hottest areas of the stock market.
The Defiance NextGen SPAC IPO ETF begins trading on the New York Stock Exchange under the ticker SPAK, according to a press release from the firm. The new fund will primarily track shares of companies that listed on exchanges by merging with special purpose acquisition companies, rather than those that held a traditional initial public offering. It will also track SPACs that have not yet executed an acquisition.