Defiance to Liquidate Retail Kings ETF (RKNG) on November 23

Defiance ETFs has announced the closure and liquidation of the Defiance Retail Kings ETF (RKNG), with the fund expected to cease operations on November 23, 2026. According to a November 12 SEC filing, the ETF will begin liquidating its portfolio holdings around November 13, potentially increasing its cash position and causing deviations from its stated investment strategy. The Nasdaq-listed fund will stop accepting new creation orders after the close of business on November 20, with trading scheduled to halt before the market opens on November 23. Remaining shareholders will receive cash distributions proportional to their holdings, which may trigger taxable events. The closure marks another product exit for Defiance as the issuer continues to adjust its ETF lineup.