Tidal Trust II is an issuer of exchange-traded funds (ETFs) focused on leveraged and thematic investment strategies in the financial services sector. The company offers the Defiance Daily Target 2X Long ONDS ETF (Ticker: ONDL), which seeks to provide 2x the daily performance of Ondas Holdings Inc. (ONDS) common stock, net of fees and expenses, through swap agreements and other financial instruments managed by Tidal ETF Services, LLC as the adviser; it targets sophisticated investors seeking amplified exposure to ONDS, a provider of private wireless networks and drone technology solutions. Tidal Trust II operates primarily in the United States, with headquarters in Milwaukee, Wisconsin, and traces its origins to the broader Tidal ETF platform established in recent years to launch niche, high-conviction ETFs.
In late 2024, Tidal Trust II partnered with Defiance ETFs to introduce ONDL as part of an expansion into daily target leveraged single-stock ETFs, enabling retail and institutional access to leveraged plays on emerging tech firms like Ondas Holdings; this launch followed a series of similar Defiance-Tidal collaborations, including 2x long ETFs on other tickers, amid growing demand for tactical trading vehicles. No major acquisitions, funding rounds, or reorganizations have been reported for Tidal Trust II in the past 1-2 years, though the firm has emphasized compliance and risk management enhancements in its leveraged product suite to align with SEC regulations. The ETF serves active traders and hedge funds in the technology and aerospace segments, with ONDS underlying focused on autonomous drone systems and mission-critical wireless infrastructure for industries such as rail, energy, and defense.