YBMN

The Defiance BMNR Option Income ETF (the "Fund" or the "BMNR Option Income ETF") seeks current income and exposure to the share price of the BitMine Immersion Technologies, Inc. ("BMNR" or the "Underlying Security"), subject to a limit on potential investment gains. The Fund is an actively managed exchange-traded fund that seeks current income while providing direct or indirect exposure to the share price (i.e., the price returns) of BMNR, subject to a limit on potential investment gains. BMNR is a publicly traded, digital asset and blockchain technology company that engages in the production or "mining" of bitcoin and has recently initiated an Ethereum treasury strategy. The Fund may use either a traditional covered call strategy or a synthetic covered call strategy to provide (i) current income (from the option premiums) and (ii) direct or indirect exposure to the Underlying Security's share price returns, subject to a limit on potential investment gains of the Underlying Security as a result of the nature of the options strategy the Fund employs. Accordingly, the Fund both seeks to generate weekly income from its options investments and aims to derive gains when the value of the Underlying Security increases.