1. Defiance ETFs to liquidate three ETFs, including JPX, by December 31, 2025. 2. Final trading day for JPX will be December 23, 2025. 3. Shareholders will receive cash redemption for their shares at NAV.
FAQ
Why Bearish?
The termination of JPX indicates a lack of investor interest and support. Historical examples show ETF closures typically lead to declining demand and valuation problems for remaining shares.
How important is it?
The closure of JPX impacts investor sentiment and stock demand significantly. As a liquidity event, it elevates scrutiny over asset management.
Why Short Term?
JPX's value is expected to drop as investors rush to sell. The immediate liquidation plan signals a loss of confidence.
NEW YORK, Dec. 17, 2025 (GLOBE NEWSWIRE) -- 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.
For further inquiries, please contact Gavin Filmore at gfilmore@tidalfg.com.
