Defiance ETFs Launches BMNZ: the First 2X Short ETF of BitMine Immersion Technologies, Inc.

MIAMI, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Defiance ETFs is proud to announce the launch of the Defiance Daily Target 2X Short BMNR ETF (Ticker: BMNZ), expanding its family of innovative single-stock leveraged ETFs designed for sophisticated traders.

BMNZ seeks to deliver -200% of the daily percentage change in the share price of BitMine Immersion Technologies, Inc. (NYSE:BMNR), offering investors an instrument to express short-term bearish views on the blockchain technology company building large-scale digital asset mining operations.

Investment Objective

The Defiance Daily Target 2X Short BMNR ETF (BMNZ) seeks daily inverse investment results, before fees and expenses, of -2 times (-200%) the daily percentage change in the share price of BitMine Immersion Technologies, Inc. (NYSE:BMNR). The Fund does not seek to achieve its stated objective for any period other than a single trading day.

Underlying Stock: BitMine Immersion Technologies, Inc.

BitMine Immersion Technologies, Inc. is a blockchain technology company focused on industrial-scale digital asset mining, equipment sales, and hosting operations. The company primarily focuses on self-mining bitcoin for its own account, as well as hosting third-party mining equipment used in the mining of digital asset coins and tokens, primarily bitcoin.

An investment in BMNZ is not an investment in BitMine Immersion Technologies, 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 BMNR over the same period. It is possible investors could lose their entire principal within a single trading day.

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. There is no guarantee the Fund's strategy will be properly implemented, and an investor may lose some or all of their investment.

BMNR Price Appreciation Risk. As part of the Fund's inverse investment strategy, the Fund enters into swap contracts and options contracts based on the share price of BitMine Immersion Technologies, Inc. ("BMNR") 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 BMNR Risk. BitMine Immersion Technologies, 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. BMNR 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, dividend rights, or any other rights with respect to BMNR shares.

BMNR Good Performance Risk. The market value of BitMine Immersion Technologies, Inc. may increase if the company meets or exceeds its publicly announced milestones. BMNR's stock performance may be positively influenced by the successful deployment and scaling of mining operations, expansion into low-cost energy regions, improvements in mining efficiency and reduced operating costs, growth in cryptocurrency prices, or favorable trends in the digital asset market. Additionally, positive analyst coverage, industry recognition, or media attention could enhance investor sentiment and contribute to a rise in BMNR's share price. If these developments occur, the Fund may experience significant losses.

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 or tracks the market generally. The value of the Fund, which focuses on an individual security, may fluctuate more sharply than a diversified investment or the market as a whole and may perform differently from such investments.

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 the Fund will achieve a high degree of inverse correlation to the Underlying Security and therefore achieve its daily inverse investment objective.

Leverage Risk. The Fund will seek -2X inverse exposure through financial instruments, which exposes the Fund to the risk that an increase in the value of the Underlying Security will be magnified. Leverage increases the Fund's volatility, and losses may be significantly greater than the Underlying Security's gain on any given day.

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 risks 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 anticipated volatility, which may be affected by fiscal and monetary policies and national or international events. The value of the options contracts in which the Fund invests is 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 were 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.

High Portfolio Turnover Risk. Daily rebalancing of the Fund's holdings pursuant to its daily investment objective causes a much greater number of portfolio transactions when compared to most ETFs.

Liquidity Risk. Some securities held by the Fund may be difficult to sell or be illiquid, particularly during times of market turmoil. Markets for securities or financial instruments could be disrupted by a number of events, including, but not limited to, an economic crisis, natural disasters, epidemics/pandemics, new legislation, or regulatory changes inside or outside the United States.

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

Media Contact:

Sylvia Jablonski

info@defianceetfs.com

833.333.9383

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/83f15ffd-44de-4338-b20b-e8c9b3408ed1