Investors may soon be able to access the growing hype around SPAC offerings with the launch of a new exchange-traded fund.
The Defiance NextGen SPAC IPO ETF plans to be the first such instrument tracking the newly popular offerings, according to a Friday SECSPACInsider.comIf the ETF comes to market, it will boast an 80% concentration in SPAC-derived IPO offerings. The rest of the ETF would invest in IPO companies themselves.The surging popularity of special-purpose acquisition companies, or SPACs, has exchange-traded fund providers rushing to capitalize on the trend.
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