Defiance Daily Target 2X Long BITF ETF (BTFL) seeks to provide amplified two-times (200%) exposure to the daily performance of Keel Infrastructure Corp. (formerly Bitfarms Ltd.) through a single-stock leveraged structure, enabling short-term tactical bets on a high-volatility bitcoin mining ecosystem. The fund uses swap agreements, short-dated call options, and other derivative strategies to achieve its leveraged objective, with a focus on daily compounding effects and strict daily reset. Underlying exposure tracks Keel Infrastructure Corp.’s daily share price movement, and BTFL is designed for active traders rather than long-hold investors. Primary products and services include leveraged equity exposure products and related derivative overlays that magnify daily returns; additional services include fund-level risk disclosures, daily position reporting, and collateral management aligned with leveraged ETF structures. Geographic operations are focused on the United States publicly traded securities market, with Keel Infrastructure Corp. listed on NASDAQ and the ETF domiciled and distributed in the U.S. The fund is managed by Defiance ETFs, with ongoing oversight of risk, liquidity, and regulatory compliance. Founding year of the fund family is not disclosed in this document, but Defiance ETFs operates as the sponsor and issuer, with BTFL as a flagship instrument in its suite of leveraged, single-stock ETFs. Subsidiaries or parent relationships include Defiance ETFs as the issuer and Keel Infrastructure Corp. as the underlying. Latest changes include the rebranding of Bitfarms Ltd. to Keel Infrastructure Corp. and the associated ticker transition to KEEL on April 6, 2026, with BTFL continuing to track the same underlying exposure through the KEEL stock price; BTFL’s launch as Defiance’s daily target 2X long BITF product was announced in late 2025 as part of the firm’s expansion of its leveraged ETF lineup. BTFL targets sophisticated investors seeking amplified exposure to KEEL’s daily movements, employing a cycle of daily resets and risk disclosures designed for short-term trading horizons rather than long-term returns. The fund emphasizes transparency around leverage, compounding effects, and the inherent risks of leverage in volatile equity and crypto-adjacent equities markets.