The Defiance NextGen SPAC IPO ETF, which will trade under the ticker SPAK, will be a one-stop shop for shares of these blank-check companies. SPACs typically seek to merge with or acquire private companies within two years. Fifty-one SPACs, including popular names such as"SPACs are a structure just like ETFs are. They're designed to bring companies out to IPO in perhaps a more efficient way because they give price certainty to those companies that are coming public," Jacobs said.
"The question, though, is what are they going to buy?" he said. "Are they going to buy a driverless car company? Are they going to buy a space exploration company? Is it maybe a more traditional consumer packaged good company? You don't really know what they're going to be.""From an investment perspective, investors might be wise to wait and see what those SPACs ultimately become before diving in because, again, they're just a structure," he said.
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