These funds don’t invest actively (picking individual stocks). Instead they invest in indexes that track larger portions of the market. So they’ll automatically buy once the company is listed on the NASDAQ.

Why do I imagine that no one whose retirement account is about to get smoked is in place to make decisions about whether or not this is a good investment

The point of that kind of account is that most people aren't in a place to make decisions about what is or isn't a good investment.