Tidal Financial Group and Defiance ETFs today announced their decision to close and liquidate three exchange-traded funds: the Defiance Daily Target 2X Long JPM ETF (Nasdaq: JPX), the Defiance Daily Target 2X Long PM ETF (Nasdaq: XPM), and the Defiance Enhanced Long Vol ETF (Nasdaq: VIXI).
The Board of Trustees of Tidal Trust II and Defiance ETFs approved this action as part of Defiance’s ongoing review of its product lineup and its commitment to offering investors a focused suite of strategies aligned with evolving market needs.
The final day of trading for JPX, XPM, and VIXI on the Nasdaq will be Tuesday, December 23, 2025. After market close on this date, the funds will no longer accept creation orders. Shareholders who continue to hold shares as of each fund’s liquidation date, Wednesday, December 31, 2025, will have their shares automatically redeemed for cash at the funds’ net asset value (NAV) on the liquidation date.
Defiance encourages all shareholders to consult their financial or tax advisors regarding the implications of these liquidations on their individual circumstances.
About Tidal Financial Group
Formed by ETF industry pioneers and thought leaders, Tidal Investments LLC is dedicated to revolutionizing ETF development, launch, marketing, and sales. With a focus on growing AUM, Tidal provides a comprehensive suite of services, proprietary tools, and methodologies designed to bring lasting investment ideas to market. Tidal is committed to ETF innovation, equipping issuers with the intelligence and tools needed to efficiently launch ETFs and optimize growth potential in a highly competitive space. For more information, visit https://www.tidalfinancialgroup.com.
