MIAMI, July 08, 2026 (GLOBE NEWSWIRE) -- Defiance ETFs, a leader in thematic and leveraged exchange-traded funds, today announced the launch of the Defiance Daily Target 2X Long PURR ETF (NASDAQ:PUR), the first ETF designed to provide 2X daily leveraged exposure to Hyperliquid Strategies Inc. (NASDAQ:PURR). Now trading, PUR gives active traders amplified, single-ticker exposure to PURR, a digital asset treasury and investment company focused on the Hyperliquid Layer-1 blockchain ecosystem and its native token, HYPE.

PUR is an actively managed ETF that seeks daily investment results, before fees and expenses, of 200% (2X) of the daily percentage change in the share price of PURR, the underlying security, for a single trading day. It pursues that exposure primarily through swap agreements and listed options contracts, rebalancing daily. The Fund is designed to deliver 200% (2X) of the daily price performance of PURR, before fees and expenses. With PUR now available for trading, active traders can take amplified, single-ticker positions on a company focused on the Hyperliquid Layer-1 blockchain ecosystem and HYPE token treasury exposure. Defiance specializes in thematic, income, and leveraged ETFs and continues to expand the tools it offers active traders for tactical, high-conviction positioning.

Investment Objective

The Fund seeks daily investment results, before fees and expenses, of two times (200%) the daily percentage change in the share price of Hyperliquid Strategies Inc. (NASDAQ:PURR). The Fund does not seek to achieve its stated investment objective for a period other than a single trading day.

An investment in the Fund is not a direct investment in Hyperliquid Strategies Inc. (NASDAQ:PURR).

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 (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 performance of PURR, 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 the Underlying Security over the same period. It is possible that investors could lose their entire principal within a single trading day.

About Defiance ETFs

Founded in 2018, Defiance is a leading ETF issuer specializing in thematic, income, and leveraged ETFs. Our first-mover leveraged single-stock ETFs empower investors to take amplified positions in high-growth companies, providing precise leverage exposure without the need to open a margin account.

Media Contact: Brenda Hentschel | bhentschel@gregoryagency.com | 201.705.3758

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. For a prospectus or summary prospectus with this and other information, go to http://defianceetfs.com/PUR. 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. There is no guarantee the Fund’s strategy will be properly implemented, and an investor may lose some or all of its investment.

PURR Price Decline Risk. As part of the Fund’s leveraged investment strategy, the Fund enters into swap agreements and options contracts based on the share price of PURR. This strategy subjects the Fund to certain of the same risks as if it owned shares of PURR, even though it does not. By virtue of the Fund’s indirect 2X exposure to changes in the share price of PURR, the Fund is subject to the risk that PURR’s share price declines. If the share price of PURR decreases, 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 PURR Risk. PURR is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way. PURR has no obligation to consider the Fund or its shareholders in taking any corporate actions that might affect the value of Fund shares. Investors in the Fund will not have voting rights or influence over the management of PURR and will not have the right to receive dividends or other distributions from PURR, but will remain exposed to price fluctuations and other risks associated with PURR.

PURR Trading Risk. The trading price of PURR may be subject to volatility and could experience wide fluctuations due to various factors. Short sellers may also influence PURR’s trading activity, contributing to market instability. Public perception and external factors beyond the company’s control may influence PURR’s stock price disproportionately. In the event of a trading halt, delisting, or significant disruption in the market for PURR’s shares, the Fund may experience difficulty entering, modifying, or liquidating its exposures.

PURR Performance Risk. PURR may fail to meet publicly announced guidelines or other expectations about its business, which could cause the price of PURR to decline. Correctly identifying key factors affecting business conditions and predicting future events is inherently uncertain, and any variance from expectations could cause the market value of PURR’s common stock to decline significantly.

PURR Business Risks. PURR’s financial condition is substantially dependent on the market price and liquidity of HYPE tokens, which are subject to extreme volatility and limited trading venues. PURR’s treasury assets are concentrated in cash and HYPE tokens, the native cryptocurrency of the Hyperliquid Layer-1 blockchain. HYPE tokens have experienced significant price volatility, and PURR’s financial results and carrying value of its HYPE tokens will fluctuate materially based on HYPE token price movements. PURR depends on the success and adoption of the Hyperliquid Layer-1 blockchain for the value of its treasury holdings in HYPE tokens. Additionally, Sonnet, now a wholly owned subsidiary of PURR focused in the biotechnology space, has a history of significant and recurring financial losses and expects to expand its organization, presenting potential operational challenges for Sonnet and PURR.

Technology Sector Risk. PURR operates within the technology sector, and the market prices of technology-related securities tend to exhibit a greater degree of market risk and sharp price fluctuations than other types of securities. Technology securities may be affected by intense competition, obsolescence of existing technology, general economic conditions, government regulation, and dependence on patent and intellectual property rights.

Electrical Equipment Industry Risk. As of the date of the prospectus, PURR is assigned to the Electrical Equipment industry. The electrical equipment industry can be significantly affected by general economic trends, including employment, economic growth, interest rates, and changes in commodity prices. Electrical equipment companies may also be subject to technical obsolescence, government regulation and spending, import controls, worldwide competition, and environmental or safety-related liabilities.

Blockchain Related Company Risk. The performance of PURR is subject to risks associated with blockchain-related companies. Blockchain applications remain largely untested, and companies in this sector face volatile adoption rates, intense competition, product obsolescence, and financial performance that may be tied to fluctuations in digital asset prices. Regulatory changes, cybersecurity threats, theft, and loss or compromise of cryptographic keys could also negatively affect PURR.

New Public Company Risks. As a newly public company, PURR faces risks and uncertainties that may not be present for more established public companies. PURR has a limited operating history as a publicly traded entity, and there can be no assurance that PURR will successfully navigate the increased obligations and scrutiny associated with being listed on a national securities exchange.

Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment that diversifies risk. The value of the Fund, which focuses on individual security, may be more volatile than 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 PURR’s performance. During periods of higher volatility, compounding effects may cause the Fund to lose value even if PURR’s share price increases over the longer term.

Daily Correlation/Tracking Risk. There is no guarantee that the Fund will achieve a high degree of leveraged correlation to PURR. Market disruptions, volatility, regulatory restrictions, or limitations in the availability of derivatives may cause the Fund’s performance to deviate from its daily leveraged investment objective.

Leverage Risk. The Fund seeks 2X long exposure through financial instruments, which exposes the Fund to the risk that losses may be magnified. Leverage increases the Fund’s volatility, and a relatively small movement in PURR’s share price may result in significant losses for the Fund.

Derivatives Risk. The Fund’s investments in derivatives may pose risks greater than those associated with directly investing in securities. These risks include increased volatility, imperfect correlation with PURR, liquidity constraints, valuation challenges, counterparty risk, and the potential for losses exceeding the amount initially invested.

Counterparty Risk. The Fund is subject to counterparty risk due to its use of derivatives. If a counterparty fails to meet its contractual obligations, the Fund may experience delays or losses, which could negatively affect its performance.

Options Contracts Risk. The Fund’s use of options subjects it to additional risks, including volatility, time decay, imperfect correlation, and the possibility that options positions expire worthless, which could result in significant losses to the Fund.

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.

Rebalancing Risk. If the Fund is unable to rebalance its portfolio correctly or in a timely manner, its exposure may not be consistent with its investment objective. This may increase the Fund’s risk exposure and cause its performance to diverge from its intended daily leveraged results.

Intra-Day Investment Risk. The Fund seeks investment results from the close of one trading day to the close of the next. An investor who buys Shares intra-day may receive more or less exposure to PURR than the Fund’s stated 2X objective, depending on movements in PURR’s share price since the prior close, and may experience returns that differ from that objective.

Liquidity Risk. Some securities or financial instruments held by the Fund may be difficult to sell, particularly during periods of market stress or volatility. Reduced liquidity may make it difficult for the Fund to adjust its exposure or meet its investment objective.

High Portfolio Turnover Risk. Daily rebalancing is expected to result in high portfolio turnover. High portfolio turnover may increase transaction costs, which could reduce the Fund’s returns and potentially result in higher taxable distributions for shareholders.

Non-Diversification Risk. Because the Fund is non-diversified, it may invest a greater percentage of its assets in a single investment, such as PURR exposure through derivatives. As a result, the Fund may be more sensitive to adverse events affecting PURR than a diversified fund.

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.

New Fund Risk. The Fund is a recently organized management investment company with a limited operating history. As a result, there is limited performance history upon which investors can evaluate the Fund.

Market and Economic Risk. Broader economic conditions, interest rates, inflation, geopolitical events, digital asset market volatility, and general market volatility may negatively affect PURR and the Fund.

Brokerage commissions may be charged on trades.

Distributed by Foreside Fund Services, LLC.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5716d29f-f7b4-4b63-a231-bc4f31ec36ce