The most common and most likely answer to this crossword clue is the 11 letter word ENGROSSMENT
I've seen this crossword clue in The Daily Telegraph
E
N
G
R
O
S
S
M
E
N
T
More clues leading to the result ENGROSSMENT
Buddy explains!

The straight part
We know that "being spellbound" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case being spellbound = engrossment.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does ENGROSSMENT mean?
ENGROSSMENT noun- The state of being engrossed; concentration or preoccupation.
- The fact or instance of writing in a legal document.