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Defiance Launches PUR: The First 2X Long PURR ETF

  • Defiance ETFs launched the Defiance Daily Target 2X Long PURR ETF (NASDAQ: PUR) on July 08, 2026, to provide 2X daily leveraged exposure to Hyperliquid Strategies Inc. (NASDAQ: PURR).
  • PUR is an actively managed fund that seeks 200% of the daily percentage change in PURR's share price before fees & expenses, utilizing swap agreements & listed options contracts.
  • The fund rebalances daily & is designed strictly for short-term use by knowledgeable investors who can frequently monitor their portfolios.
  • PURR is a digital asset treasury & investment company focused on the Hyperliquid Layer-1 blockchain ecosystem & its native HYPE token.
  • The fund does not offer direct investment in PURR, granting investors no voting rights, dividend rights, or influence over PURR's management.
  • PURR's financial condition depends heavily on the volatility & liquidity of HYPE tokens & includes a subsidiary, Sonnet, which faces recurring financial losses.
  • Significant risks include potential total principal loss within a single trading day, compounded returns deviating from 2X over periods longer than one day, & counterparty risk from derivatives.
  • The fund is non-diversified, holds a single issuer, & experiences high portfolio turnover due to daily rebalancing requirements.