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Defiance Launches QBTZ: The First 2X Short ETF for D-Wave Quantum Inc

1. Defiance ETFs launched the QBTZ ETF for shorting QBTS. 2. The fund aims for -200% daily inverse of QBTS's price changes. 3. Investors face significant risks, including potential total principal loss. 4. Performance diverges for periods longer than one day due to compounding. 5. The fund targets knowledgeable investors who actively manage their portfolios.

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FAQ

Why Bearish?

The launch of a short ETF indicates bearish sentiment towards QBTS, potentially increasing selling pressure.

How important is it?

As a new bearish investment product targeting QBTS, the QBTZ ETF could significantly affect trading behaviors and market perception.

Why Short Term?

The inverse mechanics of QBTZ suggest immediate effects on QBTS pricing, especially as investors react quickly.

Related Companies

D-Wave Quantum Inc. (QBTS)Defiance ETFs (QBTZ)
MIAMI, Oct. 07, 2025 (GLOBE NEWSWIRE) -- Defiance ETFs is proud to announce the launch of the Defiance Daily Target 2X Short QBTS ETF (Ticker: QBTZ), further expanding its innovative lineup of single-stock leveraged ETFs. The newest addition, QBTZ, is designed for traders who seek magnified, short-term bearish exposure to D-Wave Quantum Inc. (NYSE: QBTS). By seeking to deliver -200% of the daily percentage change in the share price of QBTS, the fund allows investors to express tactical downside views on one of the pioneers in quantum computing technology, packaged within the accessibility and transparency of an ETF. Investment Objective: The Fund seeks daily inverse investment results, before fees and expenses, of -2 times (-200%) the daily percentage change in the share price of D-Wave Quantum Inc. (NYSE: QBTS) The Fund does not seek to achieve its stated investment objective for a period other than a single trading day. Underlying Stock: D-Wave Quantum Inc. D-Wave Quantum Inc. develops and commercializes quantum computing systems, software, and services, with a focus on solving optimization, artificial intelligence, materials science, logistics, and cybersecurity challenges. As an early entrant in the quantum sector, D-Wave is pursuing adoption of its annealing-based quantum solutions across enterprise and government applications. An investment in QBTZ is not an investment in D-Wave Quantum Inc. The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged inverse (-2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues daily leveraged investment objectives, which means it is riskier than alternatives that do not use leverage. The Fund magnifies the inverse performance of the Underlying Security and is designed strictly for short-term use. For periods longer than a single day, the Fund’s performance will be the result of compounded daily returns, which is very likely to differ from -200% of the return of QBTS over the same period. It is possible investors could lose their entire principal within a single trading day. About Defiance ETFs Founded in 2018, Defiance ETFs is a leader in ETF innovation, focused on thematic, income, and leveraged ETFs. Defiance pioneered leveraged single-stock ETFs, enabling investors to take amplified positions—long or short—on disruptive and high-growth companies without the need for margin accounts. Important Disclosures Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”). The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. Please read the prospectus and/or summary prospectus carefully before investing. Hard copies can be requested by calling 833.333.9383. Investing involves risk. Principal loss is possible. As an ETF, the Fund may trade at a premium or discount to NAV. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single issuer or sector may be subject to a higher degree of risk. QBTS Price Appreciation Risk. As part of the Fund’s inverse investment strategy, the Fund purchases and sells swap contracts and options contracts that are based on the share price of QBTS common stock (the “Underlying Security”). This strategy subjects the Fund to certain of the same risks as if it shorted shares of the Underlying Security, even though it does not. By virtue of the Fund’s indirect -2X exposure to changes in the share price of the Underlying Security, the Fund is subject to the risk that the Underlying Security’s share price increases. If the share price of the Underlying Security increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: Indirect Investment in QBTS Risk. D-Wave Quantum Inc. is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way and has no obligation to consider your Shares in taking any corporate actions that might affect the value of Shares. QBTS Good Performance Risk. The market value of QBTS may increase if the company meets or exceeds its publicly announced business expectations and may be further enhanced by favorable industry recognition, including awards, analyst coverage, upgrades, or positive forecasts that strengthen its reputation and credibility among investors. Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security, may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole. Compounding and Market Volatility Risk. The Fund’s performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which is likely to differ from -200% of the Underlying Security’s performance, before fees and expenses. Compounding has a significant impact on funds that are inverse leveraged and that rebalance daily. Daily Correlation/Tracking Risk. There is no guarantee that a Fund will achieve a high degree of inverse correlation to the Underlying Security and therefore achieve its daily inverse investment objective. Short Sale Exposure Risk. The Fund will seek inverse or “short” exposure through financial instruments, which would cause the Fund to be exposed to certain risks associated with selling short. Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in derivatives which exposes the Fund to the risk that the counterparty will not fulfill its obligation to the Fund. Derivatives Risk. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, leverage, imperfect daily correlations with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions. Swap Agreements. The use of swap transactions is a highly specialized activity, which involves investment techniques and risks different from those associated with ordinary portfolio securities transactions. These risks may prevent the Fund from achieving its leveraged investment objective, even if the Underlying Security later reverses all or a portion of its movement. Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events. The value of the options contracts in which the Fund invests are substantially influenced by the value of the Underlying Security. Fixed Income Securities Risk. When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. Rebalancing Risk. If for any reason the Fund is unable to rebalance all or a portion of its portfolio, or if all or a portion of the portfolio is rebalanced incorrectly, the Fund’s investment exposure may not be consistent with the Fund’s investment objective. Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio. New Fund Risk. The Fund is a recently organized management investment company with a limited operating history. As a result, prospective investors have only a limited track record or history on which to base their investment decisions. Diversification does not ensure a profit nor protect against loss in a declining market. Brokerage Commissions may be charged on trades. Distributed by Foreside Fund Services, LLC David Hanonoinfo@defianceetfs.com833.333.9383 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fe4332a6-3c4b-4fc4-92d0-ef8632c97db1 Defiance Launches QBTZ: The First 2X Short ETF for D-Wave Quantum Inc Defiance ETFs is proud to announce the launch of the Defiance Daily Target 2X Short QBTS ETF (Ticker...

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