Yes it will give off EM waves because the spinner is likely to be at temperature of around 300K. This means it will be giving off some EM radiation - mostly Infra Red. read more
We can look at another type of energy the spinners give off as they spin. Get your spinner going really fast and hold it up to your ear, edge side on. You will probably hear the rushing sound that the bearings make, but you are also going to hear a lower humming sound. read more
Fidget spinners ― kids spin them and spin them ― and while parents may not "get" why the boomerang-shaped toys have caught on with such force, there's real physics to explain how the distracting devices work. read more