The folks at a Florida fund firm are teaming up with a familiar Wisconsin ally to launch another leveraged ETF that focuses on bitcoin miner. And the two teams are prepping at least three more single security leveraged ETFs, too.

Sylvia M. Jablonski Kampaktsis Defiance ETFs CEO, Chief Investment Officer

This morning, Sylvia Jablonski, CEO of Defiance ETFs [profile], unveiled the launch of the Defiance Daily Target 2X Long RIOT ETF (RIOX). Yhe Defiance folks also filed this week to build the Defiance Daily Target 2X Long China Dragons ETF (DRAX), while simultaneously filing yet again to build the Defiance Daily Target 2X Long Copper ETF (COPZ) and the Defiance Daily Target 2X Long Solar ETF (TANX). Miami-based Defiance Group Holdings LLC will serve as the sponsor of the new ETF and the three planned ETFs, and Milwaukee-based Tidal Investments LLC [profile] will serve as investment advisor.

RIOX's inception date was yesterday, January 2. RIOX, DRAX, COPZ, and TANX will all come with the same expense ratio, 95 basis points. (That also matches with the price for the existing Defiance Daily Target 2X Long Uranium ETF, aka URAX, which launched last May and had grown to $3.69 million in AUM as of yesterday.)

Like URAX, COPZ, DRAX, RIOX, and TANX will seek to provide 200 percent of the daily returns of individual underlying securities. In the case of RIOX, the underlying security tracked is stock in Riot Platforms, Inc. (RIOT on the Nasdaq), while for the other four ETFs the underlying securities are ETFs: the Roundhill China Dragons ETF (DRAG on Cboe BZX) for DRAX, the Global X Copper Miners ETF (COPX) for COPZ, the Invesco Solar ETF (TAN) for TANX, and the Global X Uranium ETF (URA) for URAX. All five funds will be PMed by the same Tidal duo: portfolio managers Qiao Duan and Christopher Mullen.

The Defiance team lays claim to RIOX to being the first 2x-leveraged single-stock ETF focused on RIOT. Jablonski calls RIOX "a unique opportunity [for investors] to amplify their exposure to the rapidly evolving blockchain and cryptocurrency mining sector."

"Riot Platforms has positioned itself as a leader in Bitcoin mining, not only by capitalizing on the growing demand for decentralized digital assets and infrastructure but also by strategically adding Bitcoin to its balance sheet, similar to MicroStrategy's approach, further reinforcing its commitment to the crypto ecosystem," Jablonski states, alluding to an underlying security tracked by another similar Defiance ETF, MSTX, which now has about $936.29 million in AUM.

TANX, RIOX, DRAX, and COPZ, like URAX, will all be series of Tidal Trust II. The actively managed funds' other service providers will include: Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; Sullivan & Worcester LLP as counsel; Tidal ETF Services LLC as administrator; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as fund accountant, sub-administrator, and transfer agent; and U.S. Bank National Association as custodian. 

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