Defiance Files for AI Bottleneck ETF With Private Market Exposure

Defiance has filed to launch the Defiance Serenity AI Bottleneck ETF, an actively managed fund targeting companies positioned to benefit from supply constraints across the global AI infrastructure industry. The ETF will invest at least 80% of its assets in companies operating in AI computing, memory, advanced semiconductor packaging, optical connectivity, power infrastructure, robotics and related technologies. The strategy will draw on research from Serenity Bottleneck Research to identify businesses where surging AI demand, limited supply or technological transitions could drive significant earnings growth. Portfolio allocations may reflect conviction levels and emerging commercial opportunities. Notably, the fund may allocate up to 15% of its net assets to private securities, including through single-asset special purpose vehicles. The ETF will be non-diversified and concentrated in technology-related industries.