If this recently unearthed commercial is anything to go by, sure looks like it! Spin Fighters were a brand of metal battling tops from the early 90's, predating the Beyblade craze by a few years. In North America, kids could buy metal tops themed after the WWF, Power Rangers and Street Fighter. Slim pickins. In Japan, dozens of licensed tops were up for grabs: Gundam, Super Mario, Slam Dunk, Dragon Quest, and yes, even Mega Man.
The Japanese Wikipedia says classic and X series tops were sold at one point. They're pretty rare, it seems. Yahoo! Auctions only has one running within the last six months: Rockman 5 Stardust Crash.
To think I could have been playing with these back in the day (born in the wrong country). Man. Ah well; least I can admire the commercial today.
Source: CM バンダイ キャラコバッチ ロックマン・ストリートファイターⅡ