{"success":true,"data":{"pressRelease":{"id":"121788","rtpr_id":"nGNX29VplP","ticker":"AINF","exchange":"NASDAQ","all_tickers":["AINF"],"title":"Defiance Launches AINF: An ETF Dedicated to AI Inference Chips","author":"Globe Newswire","published_at":"2026-08-18T13:07:43.125Z","article_body":"MIAMI, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Defiance ETFs, a leader in thematic\nand income ETFs, today announced the launch of the Defiance Inference AI Chip\nETF (Nasdaq: AINF)\n(https://www.globenewswire.com/Tracker?data=7HRfONWZJNUS-ISAu6TUd1a0lyeABYK63i8OvdR8YLGn4goosH_QhpD1ww3vU-NEJrBRBZKdv9QnDZHUfmb0bgCoVHMIsUrcNtD_9GyHvNV6y7kA6Kxe6-3kbN1XzQ7FXNT3Cqjw_mBEUa4GMB73rg==),\nan ETF dedicated to AI inference chips. AINF is designed to provide targeted\nexposure to the inference layer of the AI buildout: the companies designing,\nfabricating, and manufacturing the specialized chips that run artificial\nintelligence models after they are trained.\n\nAI investing to date has centered on training, the massive compute buildout\nused to create AI models. Inference is what happens next. Every chatbot\nresponse, every AI agent task, and every output from a deployed model is an\ninference workload, and those workloads recur each time the model is used. As\nAI applications reach more users and more devices, Defiance believes computing\ndemand is increasingly shifting toward chips engineered specifically to run\nmodels quickly and efficiently, from hyperscale data centers to edge devices.\n\n\"The first phase of the AI buildout was about training models. The next phase\nis about running them,\" said Sylvia Jablonski, Chief Investment Officer of\nDefiance ETFs. \"Every time someone uses an AI application, that is an\ninference workload, and we believe those workloads will keep compounding as AI\nreaches more users, more businesses, and more devices. With AINF, we are\nbringing investors an ETF dedicated to AI inference chips: one ticker for the\ncompanies designing and building the processors optimized for that job, from\ndata center accelerators to low-power chips at the edge.\"\n\nAINF\n(https://www.globenewswire.com/Tracker?data=piR-FRjByl8qMsorQ7988sgWmLqtpql5Uak8Hunq7iEMxXuwL21Tuje1prKXsskQP64goDCxtBRikThjxLVIBw==)\nseeks to track the BITA AI Inference Chip Select Index (the \"Index\"), which\naims to capture the performance of global publicly listed companies that are\nidentified by the Index methodology as having significant involvement in the\ndevelopment of AI inference technologies. Index constituents are primarily\nengaged in the design, fabrication, or integrated manufacturing of specialized\nchips, including GPUs, ASICs, and neuromorphic processors, specifically\noptimized for the execution of AI models.\n\nInvestment Objective\n\nThe Defiance Inference AI Chip ETF (the \"Fund\") seeks to track the total\nreturn performance, before fees and expenses, of the BITA AI Inference Chip\nSelect Index (the \"Index\").\n\nInside the Index\n\nThe Index screens for companies with significant thematic exposure to six\nsegments of the AI inference chip stack:\n\nInference GPUs. Highly parallelized processing units, originally built for\ngraphics, that handle the massive simultaneous mathematical throughput\nrequired by neural networks.\n\nCustom AI ASICs. Purpose-built silicon engineered from the ground up for\nmaximum efficiency and performance on specific inference tasks.\n\nFPGA-based AI accelerators. Integrated circuits configurable after\nmanufacturing, allowing hardware-level acceleration of inference algorithms to\nbe updated or re-programmed as AI models evolve.\n\nAI-optimized CPUs. General-purpose processors with integrated AI acceleration\ncapabilities, such as dedicated instructions, tensor-processing components, or\nneural processing engines.\n\nAccelerator modules. Integrated hardware systems and plug-in boards that\ncombine multiple AI chips, memory, and high-speed interconnects into a single\nunit for massive-scale inference in high-performance data centers.\n\nNeuromorphic chips. Brain-inspired processors that use spiking neural networks\nto achieve ultra-low power consumption, making them well suited to edge-device\ninference.\n\nTo qualify, each constituent must derive at least 50% of its total revenue\nfrom, or demonstrate material involvement in, at least one of these segments,\nas measured by the proprietary revenue and materiality scoring system of index\nprovider BITA GmbH. Constituents must also be listed on one of the exchanges\nspecified in the Index methodology and meet minimum size and liquidity\nrequirements: a market capitalization of at least $100 million, a free-float\npercentage of at least 10%, and a three-month average daily traded value of at\nleast $1 million.\n\nAt each rebalance and reconstitution, constituents are weighted by free-float\nmarket capitalization, with no constituent exceeding 20% of total Index weight\nand the cumulative weight of all constituents weighted above 4.5% capped at\n40% of the Index. Excess weight is redistributed proportionally among the\nuncapped constituents. The Index is rebalanced and reconstituted quarterly,\nafter the close of business on the third Friday of March, June, September, and\nDecember, with provisions to add IPOs and companies pivoting into the theme\nbetween rebalances. As of June 19, 2026, the Index had 26 constituents, 12 of\nwhich were listed on non-US exchanges, with significant exposure to companies\ndomiciled in the United States and Taiwan. The Index was established in 2026\nand is owned, calculated, administered, and disseminated by BITA GmbH, a\nGermany-based index provider.\n\nFund Details\n\n Fund Name            Defiance Inference AI Chip ETF          \n Ticker               AINF                                    \n Exchange             The Nasdaq Stock Market LLC             \n Gross Expense Ratio  0.65%                                   \n Index                BITA AI Inference Chip Select Index     \n Index Provider       BITA GmbH                               \n Index Calculation    Net Total Return (USD)                  \n Index Inception      July 29, 2026                           \n Investment Adviser   Defiance ETFs, LLC                      \n Sub-Adviser          Tidal Investments LLC                   \n Index Rebalance      Quarterly                               \n Distributor          Foreside Fund Services, LLC             \n\nAbout Defiance ETFs\n\nFounded in 2018, Defiance is a leading ETF issuer specializing in thematic,\nincome, and leveraged ETFs. Our first-mover leveraged single-stock ETFs allow\ninvestors to take amplified positions in high-growth companies, providing\nprecise leverage exposure without the need to open a margin account.\n\nMedia Contact\n\nBrenda Hentschel \nGregory Agency \nbhentschel@gregoryagency.com \n201.705.3758\n\nIMPORTANT DISCLOSURES\n\nDefiance ETFs, LLC is the Fund's investment adviser. Tidal Investments LLC\nserves as the Fund's sub-adviser. The Fund is a series of ETF Series Solutions\nand is distributed by Foreside Fund Services, LLC.\n\nThe Fund's investment objectives, risks, charges, and expenses must be\nconsidered carefully before investing. The prospectus\n(https://www.globenewswire.com/Tracker?data=640nD0VMlA_VmyJPlwtWIBzU5a5Oj2YqWeJiZmq04h4prdzHm84cVs_0QQX3a7Fv0B49tdmH7raS8iY0UUmcZWG0viiAIQ1TTGZow65qP8v0RCfQ5nZHxfeUKlyCLlYZ)\nand summary prospectus\n(https://www.globenewswire.com/Tracker?data=fmzfwtH1mghqUfnfM8bYoVwPfhMrdVfVVH7iTLSbFlQlxOdq-e9tHSP0bDWSvaiVVn03oYdoHA54Q-FpZN-EWeoZH8wuy4vWE9ks-0_ClP4cDWWMLh4aoItrhXZs0ne_iEl7OABJTuwd1iwrq2fxlQ==)\ncontain this and other important information about the investment company.\nPlease read the prospectus and/or summary prospectus carefully before\ninvesting. For a prospectus or summary prospectus with this and other\ninformation, go to www.defianceetfs.com. Hard copies can be requested by\ncalling 833.333.9383.\n\nInvesting involves risk. Principal loss is possible. As an ETF, the Fund may\ntrade at a premium or discount to NAV. Shares are bought and sold at market\nprice (not NAV) and are not individually redeemed from the Fund. There is no\nguarantee the Fund will achieve its investment objective, and an investor may\nlose some or all of its investment. As with any investment, some or all of\nthese risks may adversely affect the Fund's net asset value per share (\"NAV\"),\ntrading price, yield, total return, and/or ability to meet its objectives.\n\nAI Inference Technologies Industry Risk. The Fund invests significantly in\ncompanies engaged in the development, production, or utilization of AI\ninference technologies, including hardware (e.g., semiconductors,\naccelerators), software platforms, cloud infrastructure, and related services.\nThese companies may be subject to rapid technological change, product\nobsolescence, evolving industry standards, and intense competition. The\ncommercial adoption of AI inference technologies may not occur as expected,\nand regulatory, ethical, or societal concerns related to the deployment of AI\nmay adversely impact demand or profitability.\n\nConcentration Risk. The Fund's investments will be concentrated in an industry\nor group of industries to the same extent that the Index is so concentrated.\nIn such event, the value of Shares may rise and fall more than the value of\nshares of a fund that invests in securities of companies in a broader range of\nindustries. As of June 19, 2026, the Index was concentrated in the\nsemiconductors industry within the information technology sector.\n\nSemiconductors Industry Risk. Competitive pressures, intense competition,\naggressive pricing, technological developments, changing demand, research and\ndevelopment costs, availability and price of components, and product\nobsolescence can significantly affect companies operating in the\nsemiconductors industry. Reduced demand for end-user products,\nunder-utilization of manufacturing capacity, and other factors could adversely\nimpact operating results. Semiconductor companies typically face high capital\ncosts and may be heavily dependent on intellectual property rights. The\nsemiconductors industry is highly cyclical, and the stock prices of companies\nin the industry have been and likely will continue to be extremely volatile.\n\nSector Risk; Information Technology Sector Risk. To the extent the Fund\ninvests more heavily in particular sectors of the economy, its performance\nwill be especially sensitive to developments that significantly affect those\nsectors. The Fund is generally expected to invest significantly in companies\nin the information technology sector, including the semiconductor and software\nindustries. The value of stocks of information technology companies is\nparticularly vulnerable to rapid changes in technology product cycles, rapid\nproduct obsolescence, government regulation, and domestic and international\ncompetition, including from foreign competitors with lower production costs.\nThese companies are heavily dependent on patent and intellectual property\nrights and may be prone to operational and information security risks\nresulting from cyber-attacks and/or technological malfunctions.\n\nEmerging Technologies Investment Risk. The Fund invests primarily in companies\nwith exposure to emerging technologies, such as AI inference technologies. The\nextent of such technologies' versatility has not yet been fully explored.\nCurrently, there are few public companies for which these emerging\ntechnologies represent an attributable and significant revenue or profit\nstream, and such technologies may not ultimately have a material effect on the\neconomic returns of companies in which the Fund invests.\n\nEquity Market Risk. The equity securities held in the Fund's portfolio may\nexperience sudden, unpredictable drops in value or long periods of decline in\nvalue, because of factors affecting securities markets generally or factors\naffecting specific issuers, industries, or sectors. Local, regional, or global\nevents such as war, acts of terrorism, market volatility related to global\ntrade policy, the spread of infectious diseases or other public health issues,\nrecessions, or rising inflation could have a significant negative impact on\nthe Fund and its investments.\n\nForeign Securities Risk. Investments in non-US securities involve certain\nrisks that may not be present with investments in US securities, including\nrisk of loss due to foreign currency fluctuations, the imposition of tariffs,\nor political or economic instability. There may be less information publicly\navailable about a non-US issuer. Such investments may also be subject to\nwithholding or other taxes and to additional trading, settlement, custodial,\nand operational risks.\n\nEmerging Markets Risk. The Fund invests primarily in companies organized in\nemerging market nations. Investments traded in developing or emerging markets\ncan involve additional risks relating to political, economic, or regulatory\nconditions not associated with investments in US securities or more developed\ninternational markets, which may impact the Fund's ability to buy, sell, or\notherwise transfer securities, adversely affect the trading market and price\nfor Shares, and cause the Fund to decline in value. Related risks include\ncapital controls and sanctions risk and geopolitical risk.\n\nGeographic Investment Risk; Risks of Investing in Taiwan. To the extent the\nFund invests a significant portion of its assets in the securities of\ncompanies of a single country or region, it is more likely to be impacted by\nevents or conditions affecting that country or region. Taiwan is a small\nisland state with few raw material resources and is reliant on imports for its\ncommodity needs. Taiwan's economy is dependent on the economies of Japan and\nChina, as well as the United States. Taiwan's geographic proximity to China\nand history of political contention with China have resulted in ongoing\ntensions, including the risk of war with China, which may materially affect\nthe Taiwanese economy and securities markets.\n\nCurrency Exchange Rate Risk. The Fund may invest in investments denominated in\nnon-US currencies or in securities that provide exposure to such currencies.\nCurrency exchange rates can be very volatile and can change quickly and\nunpredictably, and changes will affect the value of the Fund's investments and\nthe value of your Shares.\n\nDepositary Receipt Risk. Depositary receipts involve risks similar to those\nassociated with investments in foreign securities, such as changes in\npolitical or economic conditions of other countries and changes in foreign\ncurrency exchange rates. When the Fund invests in depositary receipts as a\nsubstitute for a direct investment in the underlying shares, it is exposed to\nthe risk that the depositary receipts may not provide a return that\ncorresponds precisely with that of the underlying shares.\n\nDerivatives Risk. The Fund's derivative investments have risks, including\nimperfect correlation between the value of such instruments and the underlying\nassets or index; the loss of principal, including the potential loss of\namounts greater than the initial amount invested in the derivative instrument;\nand illiquidity. Certain derivatives transactions could affect the amount,\ntiming, and character of distributions to shareholders and may adversely\nimpact the Fund's after-tax returns. Related risks include swap agreements\nrisk and swaps capacity risk, including the risk that if the Fund's ability to\nobtain swap exposure consistent with its investment objective is disrupted,\nthe Fund may not be able to achieve its investment objective and may\nexperience significant losses.\n\nCounterparty Risk. Counterparty risk is the risk that a counterparty to Fund\ntransactions (e.g., swap transactions) will be unable or unwilling to perform\nits contractual obligation to the Fund. The Fund may use swap agreements to\ngain exposure to AI Chip Companies. If a counterparty becomes bankrupt or\ndefaults, the Fund may not receive the full amount it is entitled to receive\nor may experience delays in recovering collateral or other assets. The Fund\nmay enter into swap agreements with a limited number of counterparties, which\nmay increase its exposure to counterparty credit risk.\n\nCollateral Securities Risk. Collateral may include obligations issued or\nguaranteed by the US government, its agencies and instrumentalities, money\nmarket funds, and corporate debt securities such as commercial paper. Some\nsecurities issued or guaranteed by federal agencies and US\ngovernment-sponsored instrumentalities may not be backed by the full faith and\ncredit of the United States. Although the Fund may hold securities that carry\nUS government guarantees, these guarantees do not extend to shares of the\nFund. It is possible to lose money by investing in money market funds.\nCorporate debt securities carry both credit risk and interest rate risk.\n\nETF Risks. The Fund is an ETF and, as a result of that structure, is exposed\nto risks including a limited number of Authorized Participants, market makers,\nand liquidity providers; cash redemption risk; the costs of buying or selling\nShares, including brokerage commissions and bid/ask spreads; the risk that\nShares may trade at prices other than NAV; and the risk that Shares may not\ntrade with any volume, or at all, on any stock exchange. Because securities\nheld by the Fund may trade on foreign exchanges that are closed when the\nFund's primary listing exchange is open, premiums and discounts may be greater\nthan those experienced by domestic ETFs.\n\nIndex Methodology Risk. The Index may not include all companies around the\nglobe whose products or services are predominantly tied to the development of\ninference AI chip technologies, because the Index includes only those\ncompanies meeting the Index criteria. For example, companies that would\notherwise be included might be excluded if they are not listed on one of the\nexchanges specified in the Index description.\n\nIndex Provider Risk. There is no assurance that the Index Provider, or any\nagents acting on its behalf, will compile the Index accurately, or that the\nIndex will be determined, maintained, constructed, reconstituted, rebalanced,\ncomposed, calculated, or disseminated accurately. Any losses or costs\nassociated with errors made by the Index Provider or its agents generally will\nbe borne by the Fund and its shareholders.\n\nPassive Investment Risk. The Fund is not actively managed, and its sub-adviser\nwould not sell shares of an equity security due to current or projected\nunderperformance of a security, industry, or sector, unless that security is\nremoved from the Index or the sale is otherwise required upon a reconstitution\nor rebalancing of the Index in accordance with the Index methodology.\n\nTracking Error Risk. As with all index funds, the performance of the Fund and\nits Index may differ from each other for a variety of reasons. For example,\nthe Fund incurs operating expenses and portfolio transaction costs not\nincurred by the Index, and may not be fully invested in the securities of the\nIndex at all times or may hold securities not included in the Index.\n\nMarket Capitalization Risk. The Fund may invest in large-, mid-, and\nsmall-capitalization companies. Securities of large-capitalization companies\nmay be subject to slower growth during times of economic expansion. Securities\nof mid- and small-capitalization companies may be more vulnerable to adverse\nissuer, market, political, or economic developments, generally trade in lower\nvolumes, and are subject to greater and more unpredictable price changes than\nlarge-capitalization stocks or the stock market as a whole.\n\nNon-Diversification Risk. The Fund is considered to be non-diversified, which\nmeans it may invest more of its assets in the securities of a single issuer or\na smaller number of issuers than if it were a diversified fund. As a result,\nthe Fund may be more exposed to the risks associated with and developments\naffecting an individual issuer or a smaller number of issuers, which may\nincrease the Fund's volatility.\n\nNew Fund Risk. The Fund is a recently organized investment company with\nlimited operating history. As a result, prospective investors have limited\ntrack record or history on which to base their investment decision.\n\nTax Risk. To qualify for the favorable tax treatment generally available to\nregulated investment companies, the Fund must satisfy certain diversification\nrequirements. Given the concentration of the Index in a relatively small\nnumber of securities, it may not always be possible for the Fund to fully\nimplement a replication or representative sampling strategy while satisfying\nthese requirements. Efforts to satisfy the diversification requirements may\ncause the Fund's return to deviate from that of the Index, and efforts to\nreplicate or represent the Index may cause the Fund inadvertently to fail to\nsatisfy them, which could result in penalty taxes, forced dispositions of\nassets, or loss of regulated investment company status.\n\nCybersecurity Risk. Cybersecurity incidents may allow an unauthorized party to\ngain access to Fund assets or proprietary information, or cause the Fund, the\nAdviser, the Sub-Adviser, and/or other service providers to suffer data\nbreaches or data corruption. Cybersecurity failures or breaches of the\nelectronic systems of the Fund, its service providers, market makers,\nAuthorized Participants, the Fund's primary listing exchange, or the issuers\nof securities in which the Fund invests may disrupt and negatively affect the\nFund's business operations, including the ability to purchase and sell Shares,\npotentially resulting in financial losses to the Fund and its shareholders.\n\nPlease see the prospectus for a complete description of the principal risks.\n\nThe BITA AI Inference Chip Select Index was established in 2026 and is owned\nby BITA GmbH. The Index Provider is not affiliated with the Fund's adviser,\nsub-adviser, administrator, or distributor.\n\nBrokerage commissions may be charged on trades.\n\nDistributed by Foreside Fund Services, LLC.\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/1c598beb-ff75-42f8-9c73-8623eebf0c1e\nDefiance Launches AINF: An ETF Dedicated to AI Inference Chips \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/1c598beb-ff75-42f8-9c73-8623eebf0c1e/en)\nDefiance ETFs, a leader in thematic and income ETFs, today announced the\nlaunch of the Defiance Inference AI Chip ETF (Nasdaq: AINF), an ETF dedicated\nto AI inference chips.\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX29VplP","title":"Defiance Launches AINF: An ETF Dedicated to AI Inference Chips","author":"Globe Newswire","ticker":"AINF","created":"2026-08-18T13:07:43.125Z","tickers":["AINF"],"exchange":"NASDAQ","article_body":"MIAMI, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Defiance ETFs, a leader in thematic\nand income ETFs, today announced the launch of the Defiance Inference AI Chip\nETF (Nasdaq: AINF)\n(https://www.globenewswire.com/Tracker?data=7HRfONWZJNUS-ISAu6TUd1a0lyeABYK63i8OvdR8YLGn4goosH_QhpD1ww3vU-NEJrBRBZKdv9QnDZHUfmb0bgCoVHMIsUrcNtD_9GyHvNV6y7kA6Kxe6-3kbN1XzQ7FXNT3Cqjw_mBEUa4GMB73rg==),\nan ETF dedicated to AI inference chips. AINF is designed to provide targeted\nexposure to the inference layer of the AI buildout: the companies designing,\nfabricating, and manufacturing the specialized chips that run artificial\nintelligence models after they are trained.\n\nAI investing to date has centered on training, the massive compute buildout\nused to create AI models. Inference is what happens next. Every chatbot\nresponse, every AI agent task, and every output from a deployed model is an\ninference workload, and those workloads recur each time the model is used. As\nAI applications reach more users and more devices, Defiance believes computing\ndemand is increasingly shifting toward chips engineered specifically to run\nmodels quickly and efficiently, from hyperscale data centers to edge devices.\n\n\"The first phase of the AI buildout was about training models. The next phase\nis about running them,\" said Sylvia Jablonski, Chief Investment Officer of\nDefiance ETFs. \"Every time someone uses an AI application, that is an\ninference workload, and we believe those workloads will keep compounding as AI\nreaches more users, more businesses, and more devices. With AINF, we are\nbringing investors an ETF dedicated to AI inference chips: one ticker for the\ncompanies designing and building the processors optimized for that job, from\ndata center accelerators to low-power chips at the edge.\"\n\nAINF\n(https://www.globenewswire.com/Tracker?data=piR-FRjByl8qMsorQ7988sgWmLqtpql5Uak8Hunq7iEMxXuwL21Tuje1prKXsskQP64goDCxtBRikThjxLVIBw==)\nseeks to track the BITA AI Inference Chip Select Index (the \"Index\"), which\naims to capture the performance of global publicly listed companies that are\nidentified by the Index methodology as having significant involvement in the\ndevelopment of AI inference technologies. Index constituents are primarily\nengaged in the design, fabrication, or integrated manufacturing of specialized\nchips, including GPUs, ASICs, and neuromorphic processors, specifically\noptimized for the execution of AI models.\n\nInvestment Objective\n\nThe Defiance Inference AI Chip ETF (the \"Fund\") seeks to track the total\nreturn performance, before fees and expenses, of the BITA AI Inference Chip\nSelect Index (the \"Index\").\n\nInside the Index\n\nThe Index screens for companies with significant thematic exposure to six\nsegments of the AI inference chip stack:\n\nInference GPUs. Highly parallelized processing units, originally built for\ngraphics, that handle the massive simultaneous mathematical throughput\nrequired by neural networks.\n\nCustom AI ASICs. Purpose-built silicon engineered from the ground up for\nmaximum efficiency and performance on specific inference tasks.\n\nFPGA-based AI accelerators. Integrated circuits configurable after\nmanufacturing, allowing hardware-level acceleration of inference algorithms to\nbe updated or re-programmed as AI models evolve.\n\nAI-optimized CPUs. General-purpose processors with integrated AI acceleration\ncapabilities, such as dedicated instructions, tensor-processing components, or\nneural processing engines.\n\nAccelerator modules. Integrated hardware systems and plug-in boards that\ncombine multiple AI chips, memory, and high-speed interconnects into a single\nunit for massive-scale inference in high-performance data centers.\n\nNeuromorphic chips. Brain-inspired processors that use spiking neural networks\nto achieve ultra-low power consumption, making them well suited to edge-device\ninference.\n\nTo qualify, each constituent must derive at least 50% of its total revenue\nfrom, or demonstrate material involvement in, at least one of these segments,\nas measured by the proprietary revenue and materiality scoring system of index\nprovider BITA GmbH. Constituents must also be listed on one of the exchanges\nspecified in the Index methodology and meet minimum size and liquidity\nrequirements: a market capitalization of at least $100 million, a free-float\npercentage of at least 10%, and a three-month average daily traded value of at\nleast $1 million.\n\nAt each rebalance and reconstitution, constituents are weighted by free-float\nmarket capitalization, with no constituent exceeding 20% of total Index weight\nand the cumulative weight of all constituents weighted above 4.5% capped at\n40% of the Index. Excess weight is redistributed proportionally among the\nuncapped constituents. The Index is rebalanced and reconstituted quarterly,\nafter the close of business on the third Friday of March, June, September, and\nDecember, with provisions to add IPOs and companies pivoting into the theme\nbetween rebalances. As of June 19, 2026, the Index had 26 constituents, 12 of\nwhich were listed on non-US exchanges, with significant exposure to companies\ndomiciled in the United States and Taiwan. The Index was established in 2026\nand is owned, calculated, administered, and disseminated by BITA GmbH, a\nGermany-based index provider.\n\nFund Details\n\n Fund Name            Defiance Inference AI Chip ETF          \n Ticker               AINF                                    \n Exchange             The Nasdaq Stock Market LLC             \n Gross Expense Ratio  0.65%                                   \n Index                BITA AI Inference Chip Select Index     \n Index Provider       BITA GmbH                               \n Index Calculation    Net Total Return (USD)                  \n Index Inception      July 29, 2026                           \n Investment Adviser   Defiance ETFs, LLC                      \n Sub-Adviser          Tidal Investments LLC                   \n Index Rebalance      Quarterly                               \n Distributor          Foreside Fund Services, LLC             \n\nAbout Defiance ETFs\n\nFounded in 2018, Defiance is a leading ETF issuer specializing in thematic,\nincome, and leveraged ETFs. Our first-mover leveraged single-stock ETFs allow\ninvestors to take amplified positions in high-growth companies, providing\nprecise leverage exposure without the need to open a margin account.\n\nMedia Contact\n\nBrenda Hentschel \nGregory Agency \nbhentschel@gregoryagency.com \n201.705.3758\n\nIMPORTANT DISCLOSURES\n\nDefiance ETFs, LLC is the Fund's investment adviser. Tidal Investments LLC\nserves as the Fund's sub-adviser. The Fund is a series of ETF Series Solutions\nand is distributed by Foreside Fund Services, LLC.\n\nThe Fund's investment objectives, risks, charges, and expenses must be\nconsidered carefully before investing. The prospectus\n(https://www.globenewswire.com/Tracker?data=640nD0VMlA_VmyJPlwtWIBzU5a5Oj2YqWeJiZmq04h4prdzHm84cVs_0QQX3a7Fv0B49tdmH7raS8iY0UUmcZWG0viiAIQ1TTGZow65qP8v0RCfQ5nZHxfeUKlyCLlYZ)\nand summary prospectus\n(https://www.globenewswire.com/Tracker?data=fmzfwtH1mghqUfnfM8bYoVwPfhMrdVfVVH7iTLSbFlQlxOdq-e9tHSP0bDWSvaiVVn03oYdoHA54Q-FpZN-EWeoZH8wuy4vWE9ks-0_ClP4cDWWMLh4aoItrhXZs0ne_iEl7OABJTuwd1iwrq2fxlQ==)\ncontain this and other important information about the investment company.\nPlease read the prospectus and/or summary prospectus carefully before\ninvesting. For a prospectus or summary prospectus with this and other\ninformation, go to www.defianceetfs.com. Hard copies can be requested by\ncalling 833.333.9383.\n\nInvesting involves risk. Principal loss is possible. As an ETF, the Fund may\ntrade at a premium or discount to NAV. Shares are bought and sold at market\nprice (not NAV) and are not individually redeemed from the Fund. There is no\nguarantee the Fund will achieve its investment objective, and an investor may\nlose some or all of its investment. As with any investment, some or all of\nthese risks may adversely affect the Fund's net asset value per share (\"NAV\"),\ntrading price, yield, total return, and/or ability to meet its objectives.\n\nAI Inference Technologies Industry Risk. The Fund invests significantly in\ncompanies engaged in the development, production, or utilization of AI\ninference technologies, including hardware (e.g., semiconductors,\naccelerators), software platforms, cloud infrastructure, and related services.\nThese companies may be subject to rapid technological change, product\nobsolescence, evolving industry standards, and intense competition. The\ncommercial adoption of AI inference technologies may not occur as expected,\nand regulatory, ethical, or societal concerns related to the deployment of AI\nmay adversely impact demand or profitability.\n\nConcentration Risk. The Fund's investments will be concentrated in an industry\nor group of industries to the same extent that the Index is so concentrated.\nIn such event, the value of Shares may rise and fall more than the value of\nshares of a fund that invests in securities of companies in a broader range of\nindustries. As of June 19, 2026, the Index was concentrated in the\nsemiconductors industry within the information technology sector.\n\nSemiconductors Industry Risk. Competitive pressures, intense competition,\naggressive pricing, technological developments, changing demand, research and\ndevelopment costs, availability and price of components, and product\nobsolescence can significantly affect companies operating in the\nsemiconductors industry. Reduced demand for end-user products,\nunder-utilization of manufacturing capacity, and other factors could adversely\nimpact operating results. Semiconductor companies typically face high capital\ncosts and may be heavily dependent on intellectual property rights. The\nsemiconductors industry is highly cyclical, and the stock prices of companies\nin the industry have been and likely will continue to be extremely volatile.\n\nSector Risk; Information Technology Sector Risk. To the extent the Fund\ninvests more heavily in particular sectors of the economy, its performance\nwill be especially sensitive to developments that significantly affect those\nsectors. The Fund is generally expected to invest significantly in companies\nin the information technology sector, including the semiconductor and software\nindustries. The value of stocks of information technology companies is\nparticularly vulnerable to rapid changes in technology product cycles, rapid\nproduct obsolescence, government regulation, and domestic and international\ncompetition, including from foreign competitors with lower production costs.\nThese companies are heavily dependent on patent and intellectual property\nrights and may be prone to operational and information security risks\nresulting from cyber-attacks and/or technological malfunctions.\n\nEmerging Technologies Investment Risk. The Fund invests primarily in companies\nwith exposure to emerging technologies, such as AI inference technologies. The\nextent of such technologies' versatility has not yet been fully explored.\nCurrently, there are few public companies for which these emerging\ntechnologies represent an attributable and significant revenue or profit\nstream, and such technologies may not ultimately have a material effect on the\neconomic returns of companies in which the Fund invests.\n\nEquity Market Risk. The equity securities held in the Fund's portfolio may\nexperience sudden, unpredictable drops in value or long periods of decline in\nvalue, because of factors affecting securities markets generally or factors\naffecting specific issuers, industries, or sectors. Local, regional, or global\nevents such as war, acts of terrorism, market volatility related to global\ntrade policy, the spread of infectious diseases or other public health issues,\nrecessions, or rising inflation could have a significant negative impact on\nthe Fund and its investments.\n\nForeign Securities Risk. Investments in non-US securities involve certain\nrisks that may not be present with investments in US securities, including\nrisk of loss due to foreign currency fluctuations, the imposition of tariffs,\nor political or economic instability. There may be less information publicly\navailable about a non-US issuer. Such investments may also be subject to\nwithholding or other taxes and to additional trading, settlement, custodial,\nand operational risks.\n\nEmerging Markets Risk. The Fund invests primarily in companies organized in\nemerging market nations. Investments traded in developing or emerging markets\ncan involve additional risks relating to political, economic, or regulatory\nconditions not associated with investments in US securities or more developed\ninternational markets, which may impact the Fund's ability to buy, sell, or\notherwise transfer securities, adversely affect the trading market and price\nfor Shares, and cause the Fund to decline in value. Related risks include\ncapital controls and sanctions risk and geopolitical risk.\n\nGeographic Investment Risk; Risks of Investing in Taiwan. To the extent the\nFund invests a significant portion of its assets in the securities of\ncompanies of a single country or region, it is more likely to be impacted by\nevents or conditions affecting that country or region. Taiwan is a small\nisland state with few raw material resources and is reliant on imports for its\ncommodity needs. Taiwan's economy is dependent on the economies of Japan and\nChina, as well as the United States. Taiwan's geographic proximity to China\nand history of political contention with China have resulted in ongoing\ntensions, including the risk of war with China, which may materially affect\nthe Taiwanese economy and securities markets.\n\nCurrency Exchange Rate Risk. The Fund may invest in investments denominated in\nnon-US currencies or in securities that provide exposure to such currencies.\nCurrency exchange rates can be very volatile and can change quickly and\nunpredictably, and changes will affect the value of the Fund's investments and\nthe value of your Shares.\n\nDepositary Receipt Risk. Depositary receipts involve risks similar to those\nassociated with investments in foreign securities, such as changes in\npolitical or economic conditions of other countries and changes in foreign\ncurrency exchange rates. When the Fund invests in depositary receipts as a\nsubstitute for a direct investment in the underlying shares, it is exposed to\nthe risk that the depositary receipts may not provide a return that\ncorresponds precisely with that of the underlying shares.\n\nDerivatives Risk. The Fund's derivative investments have risks, including\nimperfect correlation between the value of such instruments and the underlying\nassets or index; the loss of principal, including the potential loss of\namounts greater than the initial amount invested in the derivative instrument;\nand illiquidity. Certain derivatives transactions could affect the amount,\ntiming, and character of distributions to shareholders and may adversely\nimpact the Fund's after-tax returns. Related risks include swap agreements\nrisk and swaps capacity risk, including the risk that if the Fund's ability to\nobtain swap exposure consistent with its investment objective is disrupted,\nthe Fund may not be able to achieve its investment objective and may\nexperience significant losses.\n\nCounterparty Risk. Counterparty risk is the risk that a counterparty to Fund\ntransactions (e.g., swap transactions) will be unable or unwilling to perform\nits contractual obligation to the Fund. The Fund may use swap agreements to\ngain exposure to AI Chip Companies. If a counterparty becomes bankrupt or\ndefaults, the Fund may not receive the full amount it is entitled to receive\nor may experience delays in recovering collateral or other assets. The Fund\nmay enter into swap agreements with a limited number of counterparties, which\nmay increase its exposure to counterparty credit risk.\n\nCollateral Securities Risk. Collateral may include obligations issued or\nguaranteed by the US government, its agencies and instrumentalities, money\nmarket funds, and corporate debt securities such as commercial paper. Some\nsecurities issued or guaranteed by federal agencies and US\ngovernment-sponsored instrumentalities may not be backed by the full faith and\ncredit of the United States. Although the Fund may hold securities that carry\nUS government guarantees, these guarantees do not extend to shares of the\nFund. It is possible to lose money by investing in money market funds.\nCorporate debt securities carry both credit risk and interest rate risk.\n\nETF Risks. The Fund is an ETF and, as a result of that structure, is exposed\nto risks including a limited number of Authorized Participants, market makers,\nand liquidity providers; cash redemption risk; the costs of buying or selling\nShares, including brokerage commissions and bid/ask spreads; the risk that\nShares may trade at prices other than NAV; and the risk that Shares may not\ntrade with any volume, or at all, on any stock exchange. Because securities\nheld by the Fund may trade on foreign exchanges that are closed when the\nFund's primary listing exchange is open, premiums and discounts may be greater\nthan those experienced by domestic ETFs.\n\nIndex Methodology Risk. The Index may not include all companies around the\nglobe whose products or services are predominantly tied to the development of\ninference AI chip technologies, because the Index includes only those\ncompanies meeting the Index criteria. For example, companies that would\notherwise be included might be excluded if they are not listed on one of the\nexchanges specified in the Index description.\n\nIndex Provider Risk. There is no assurance that the Index Provider, or any\nagents acting on its behalf, will compile the Index accurately, or that the\nIndex will be determined, maintained, constructed, reconstituted, rebalanced,\ncomposed, calculated, or disseminated accurately. Any losses or costs\nassociated with errors made by the Index Provider or its agents generally will\nbe borne by the Fund and its shareholders.\n\nPassive Investment Risk. The Fund is not actively managed, and its sub-adviser\nwould not sell shares of an equity security due to current or projected\nunderperformance of a security, industry, or sector, unless that security is\nremoved from the Index or the sale is otherwise required upon a reconstitution\nor rebalancing of the Index in accordance with the Index methodology.\n\nTracking Error Risk. As with all index funds, the performance of the Fund and\nits Index may differ from each other for a variety of reasons. For example,\nthe Fund incurs operating expenses and portfolio transaction costs not\nincurred by the Index, and may not be fully invested in the securities of the\nIndex at all times or may hold securities not included in the Index.\n\nMarket Capitalization Risk. The Fund may invest in large-, mid-, and\nsmall-capitalization companies. Securities of large-capitalization companies\nmay be subject to slower growth during times of economic expansion. Securities\nof mid- and small-capitalization companies may be more vulnerable to adverse\nissuer, market, political, or economic developments, generally trade in lower\nvolumes, and are subject to greater and more unpredictable price changes than\nlarge-capitalization stocks or the stock market as a whole.\n\nNon-Diversification Risk. The Fund is considered to be non-diversified, which\nmeans it may invest more of its assets in the securities of a single issuer or\na smaller number of issuers than if it were a diversified fund. As a result,\nthe Fund may be more exposed to the risks associated with and developments\naffecting an individual issuer or a smaller number of issuers, which may\nincrease the Fund's volatility.\n\nNew Fund Risk. The Fund is a recently organized investment company with\nlimited operating history. As a result, prospective investors have limited\ntrack record or history on which to base their investment decision.\n\nTax Risk. To qualify for the favorable tax treatment generally available to\nregulated investment companies, the Fund must satisfy certain diversification\nrequirements. Given the concentration of the Index in a relatively small\nnumber of securities, it may not always be possible for the Fund to fully\nimplement a replication or representative sampling strategy while satisfying\nthese requirements. Efforts to satisfy the diversification requirements may\ncause the Fund's return to deviate from that of the Index, and efforts to\nreplicate or represent the Index may cause the Fund inadvertently to fail to\nsatisfy them, which could result in penalty taxes, forced dispositions of\nassets, or loss of regulated investment company status.\n\nCybersecurity Risk. Cybersecurity incidents may allow an unauthorized party to\ngain access to Fund assets or proprietary information, or cause the Fund, the\nAdviser, the Sub-Adviser, and/or other service providers to suffer data\nbreaches or data corruption. Cybersecurity failures or breaches of the\nelectronic systems of the Fund, its service providers, market makers,\nAuthorized Participants, the Fund's primary listing exchange, or the issuers\nof securities in which the Fund invests may disrupt and negatively affect the\nFund's business operations, including the ability to purchase and sell Shares,\npotentially resulting in financial losses to the Fund and its shareholders.\n\nPlease see the prospectus for a complete description of the principal risks.\n\nThe BITA AI Inference Chip Select Index was established in 2026 and is owned\nby BITA GmbH. The Index Provider is not affiliated with the Fund's adviser,\nsub-adviser, administrator, or distributor.\n\nBrokerage commissions may be charged on trades.\n\nDistributed by Foreside Fund Services, LLC.\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/1c598beb-ff75-42f8-9c73-8623eebf0c1e\nDefiance Launches AINF: An ETF Dedicated to AI Inference Chips \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/1c598beb-ff75-42f8-9c73-8623eebf0c1e/en)\nDefiance ETFs, a leader in thematic and income ETFs, today announced the\nlaunch of the Defiance Inference AI Chip ETF (Nasdaq: AINF), an ETF dedicated\nto AI inference chips.\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-18T13:07:43.173368814Z","server_sent_at_ms":1787058463173},"received_at":"2026-08-18T13:07:43.326Z","source_url":"https://www.globenewswire.com/news-release/2026/08/18/3346925/0/en/defiance-launches-ainf-an-etf-dedicated-to-ai-inference-chips.html"},"analysis":{"id":"110773","press_release_id":"121788","analysis_json":{"industry":{"label":"Capital Markets","sector":"Financials"},"redFlags":["New fund with limited operating history"],"eventType":"product_launch","narrative":"Defiance ETFs launched the Defiance Inference AI Chip ETF (Nasdaq: AINF), a fund designed to provide targeted exposure to the inference layer of the artificial intelligence buildout.\n\nThe fund tracks the BITA AI Inference Chip Select Index, which includes companies involved in the design and fabrication of specialized chips like inference GPUs, custom AI ASICs, and neuromorphic processors.\n\nAINF carries a gross expense ratio of 0.65% and is rebalanced quarterly, requiring constituents to derive at least 50% of revenue from AI inference technologies.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"New ETF provides targeted exposure to AI inference chip market segment."},"keyFigures":{"customDimensions":{"constituent_count":26,"min_market_cap_usd":"$100 million","gross_expense_ratio":"0.65%","rebalance_frequency":"Quarterly","index_inception_date":"July 29, 2026","min_avg_daily_traded_value_usd":"$1 million"}},"quotedText":"The first phase of the AI buildout was about training models. The next phase is about running them","namedEntities":{"people":[{"name":"Sylvia Jablonski","role":"Chief Investment Officer of Defiance ETFs"},{"name":"Brenda Hentschel","role":"Media Contact"}],"products":["Defiance Inference AI Chip ETF","BITA AI Inference Chip Select Index"],"companies":[{"name":"Defiance ETFs","relationship":"investment adviser"},{"name":"BITA GmbH","relationship":"index provider"},{"name":"Tidal Investments LLC","relationship":"sub-adviser"},{"name":"Foreside Fund Services, LLC","relationship":"distributor"},{"name":"Gregory Agency","relationship":"media relations"},{"name":"The Nasdaq Stock Market LLC","relationship":"exchange"}],"dollarAmounts":[{"amount":"$100 million","context":"minimum market capitalization requirement for index constituents"},{"amount":"$1 million","context":"minimum three-month average daily traded value for index constituents"}]},"materialImpact":{"score":1,"reasoning":"Routine ETF product launch by Defiance ETFs; represents standard business expansion for the issuer without material financial surprise or binary event."},"tickerRelevance":{"others":[],"primary":"AINF"},"globalImportance":15,"audienceRelevance":25,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"product_launch","sectorWeight":"financials","retailInterest":"moderate"}},"event_type":"product_launch","event_type_secondary":null,"sentiment":"bullish","material_impact_score":1,"narrative":"Defiance ETFs launched the Defiance Inference AI Chip ETF (Nasdaq: AINF), a fund designed to provide targeted exposure to the inference layer of the artificial intelligence buildout.\n\nThe fund tracks the BITA AI Inference Chip Select Index, which includes companies involved in the design and fabrication of specialized chips like inference GPUs, custom AI ASICs, and neuromorphic processors.\n\nAINF carries a gross expense ratio of 0.65% and is rebalanced quarterly, requiring constituents to derive at least 50% of revenue from AI inference technologies.","key_figures":{"customDimensions":{"constituent_count":26,"min_market_cap_usd":"$100 million","gross_expense_ratio":"0.65%","rebalance_frequency":"Quarterly","index_inception_date":"July 29, 2026","min_avg_daily_traded_value_usd":"$1 million"}},"named_entities":{"people":[{"name":"Sylvia Jablonski","role":"Chief Investment Officer of Defiance ETFs"},{"name":"Brenda Hentschel","role":"Media Contact"}],"products":["Defiance Inference AI Chip ETF","BITA AI Inference Chip Select Index"],"companies":[{"name":"Defiance ETFs","relationship":"investment adviser"},{"name":"BITA GmbH","relationship":"index provider"},{"name":"Tidal Investments LLC","relationship":"sub-adviser"},{"name":"Foreside Fund Services, LLC","relationship":"distributor"},{"name":"Gregory Agency","relationship":"media relations"},{"name":"The Nasdaq Stock Market LLC","relationship":"exchange"}],"dollarAmounts":[{"amount":"$100 million","context":"minimum market capitalization requirement for index constituents"},{"amount":"$1 million","context":"minimum three-month average daily traded value for index constituents"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-18T15:32:39.782Z","global_importance":15,"audience_relevance":25,"importance_components":{"tickerTier":"small-cap","eventGravity":"product_launch","sectorWeight":"financials","retailInterest":"moderate"}},"durationMs":156754,"modelName":"glm-4.7"}}