Defiance Daily Target 2X Long IONQ ETF (IONX) is an exchange-traded fund that seeks daily leveraged investment results of two times (200%) the daily percentage change in the share price of IonQ, Inc. (NYSE: IONQ), a leader in quantum computing hardware, maintenance, support services, and access to quantum computers of varying qubit capacities; the fund achieves its objective through derivatives including swap agreements with counterparties such as L-CS Financial, Cantor Fitzgerald, BMO, Marex, and Nomura, collateralized by U.S. Treasury bills and cash equivalents. Issued by Defiance ETFs, a sponsor of thematic, income, and leveraged single-stock ETFs founded in 2018 and headquartered in Miami, Florida, IONX targets sophisticated traders and investors seeking amplified exposure to high-growth technology sectors without requiring margin accounts. Launched on March 11, 2025, the fund operates in the U.S. financial markets, listing on Nasdaq, with primary customers including retail and institutional investors focused on short-term directional bets in quantum computing innovation. In June 2025, Defiance expanded its IONQ-related offerings by launching IONZ, the first 2X short ETF on IonQ, complementing IONX's long exposure; later in 2025, the firm introduced additional leveraged products including OKLL (2X long OKLO), SOUX (2X long SOUN), VSTL (2X long VST), OKLS (2X short OKLO), and YBMN (options income on BMNR in partnership with Milliman), underscoring its strategy of pioneering single-stock leverage amid growing demand for precision trading tools.