Morgan Stanley's Robert Kindler on whether investors should own SPAC ETFs
Morgan Creek Capital Management and FinTech firm Exos are planning to launch an ETF that invests in SPACs. That ETF is expected to launch Tuesday and trade under the ticker SPXZ and consist of firms who recently went public by merging with a SPAC and shell companies that are seeking startups to take public. This highlights the red-hot landscape of SPAC deals. Robert Kindler, Morgan Stanley vice chairman and global head of M&A, joined "Squawk Box" on Friday to discuss what he thinks is driving the trend and what it means for the M&A sector.