2‐Norbornyl cations with spiroannellated cyclobutane rings were generated for comparison with the previously studied cyclopropane analogues. Starting with the Diels‐Alder reaction of cyclopentadiene with methylenecyclobutane, spiro‐ [bicyclo[2.2.1]heptane‐2,1′‐cyclobutan]‐6‐one (11) was prepared. The tosylhydrazone 12 of 11 was photolyzed in NaOD/D2O to give the analogous alcohol 13 with a ca. 1:1 distribution of deuterium. Ring expansion was not observed, in contrast to the cyclopropane analogue. − The tosylhydrazone 22 of spiro[bicyclo[2.2.1]heptane‐2,1′‐cyclobutan]‐3‐one (21) and the related tosylates (28, 32) rearranged, in part, to afford derivatives of spiro[bicyclo[2.2.1]heptane‐7,1′‐cyclobutane] (29, 33, 34). In both series, ring expansion of the spiroannellated cyclobutane, by exo‐3,2‐C shift, was the major reaction, giving rise to a uniquely endo‐selective tertiary cation (36). Analogously positioned cyclopropane rings remain intact, due to stabilizing interactions with the neighboring positive charge which are lacking in the cyclobutane systems. − In CDCl3 solution, the tosylate 32 produced mixtures of isomeric tosylates by way of ion pair recombination. We observed that exo → exo shifts of the counterion proceed with little scrambling of 18O whereas complete equilibration of the tosylate oxygens is attained in exo → endo shifts.