SPACs Set to Capitalize on IPO Freeze With $1 Billion Deal Burst

President Donald Trump’s tariff war has hammered stocks and bonds, and shuttered the traditional IPO market. Yet even with risk appetite on hold, the area that could benefit most from the rampant volatility is among the most speculative: The SPAC market.

The blank-check industry has hummed along since the start of 2025, with sponsors pooling more than $1 billion in this month alone despite President Trump announcing global tariffs whose sweeping scale shocked investors.

Equity volatility — which has wiped out more than $2 trillion in market value from the S&P 500 Index in the past two months — ...