Defiance ETFs Announces Closure of JPX, XPM, and VIXI Funds

On December 17, 2025, Tidal Financial Group and Defiance ETFs announced the closure and liquidation of three exchange-traded funds (ETFs): 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). This decision, approved by the Board of Trustees of Tidal Trust II and Defiance ETFs, is part of a broader review of Defiance's product lineup. The company aims to streamline its offerings and align its strategies with the evolving needs of investors.

The final trading day for the JPX, XPM, and VIXI ETFs on the Nasdaq will be December 23, 2025. After this date, the funds will cease to accept creation orders. Shareholders holding shares through the liquidation date of December 31, 2025, will have their investments automatically redeemed for cash based on the funds' net asset value (NAV) at that time. Defiance ETFs has recommended that shareholders consult with their financial or tax advisors to understand the implications of these closures on their personal situations.

Tidal Financial Group, which has been active in ETF innovation, aims to provide efficient solutions for ETF development, marketing, and sales. Founded by pioneers in the industry, Tidal focuses on growing assets under management (AUM) and offering a range of services and proprietary tools to facilitate successful ETF launches.

For more detailed information, stakeholders are encouraged to visit Tidal Financial Group’s official website or reach out to their representatives for further inquiries.

The announcement from Defiance ETFs regarding the closure of the JPX, XPM, and VIXI funds signals a notable shift in the ETF landscape and presents several implications for investors and market participants. As these funds exit the market, it reflects Defiance’s commitment to refining its product offerings in alignment with evolving investor preferences and market conditions.

Investors holding positions in JPX, XPM, or VIXI should be proactive in assessing their portfolios. With the last trading day set for December 23, 2025, shareholders will need to decide whether to liquidate their holdings before the cessation of trading or wait for the automated cash redemption on December 31, 2025. Given the focus of these ETFs—leveraged strategies on JPMorgan Chase, precious metals, and volatility—investors must gauge their risk tolerance and potential market movements ahead of the liquidation.

The closure of these funds may also reflect broader trends within the ETF space, potentially indicating a shift away from leveraged and niche product lines. This could lead investors to consider more diversified or traditional ETFs that might offer greater stability in volatile market conditions. Moreover, the exit of types of funds focused on daily leveraged targets suggests a cautionary stance from Defiance, encouraging investors to align with more sustainable investment choices.

Additionally, potential tax implications associated with liquidations should not be overlooked. It is advisable for shareholders to consult with financial and tax advisors to better understand how these changes may impact their tax liabilities, particularly if shares are sold at a gain.

In conclusion, the closure of Defiance’s funds serves as a reminder of the importance of staying agile in dynamic market environments. Investors should remain scrutinous about their ETF selections and consider broader asset allocation strategies that align with their long-term financial objectives.