In Value Stream, Should we include Spikes as spikes are a preparation for a story and has technical approach and not demo able.

Hi Sid! Spikes are usually not part of the regular planned work. They are ad-hoc short-term experiments, tests or research, done only when needed, and done for the minimum sufficient and necessary, usually to make a better decision about something technical. They are not supposed to take a relevant amount of time, and should be timeboxed. I'd add them to the board just to create visibility for the entire team.