🔴 Defiance Daily Target 2X Long IREN ETF is trading 4.4% down today on continued Iris Energy and crypto weakness

Defiance Daily Target 2X Long IREN ETF is trading 4.4% down in after-hours trading as crypto-related assets remain under pressure following a stronger-than-expected U.S. jobs report.

• The fund is extending sharp recent losses, reflecting a continued selloff in Iris Energy (IREN) and the broader crypto mining sector.
• Robust employment data has reinforced expectations for higher-for-longer interest rates, weighing heavily on speculative growth assets and leveraged crypto-linked ETFs.
• The ETF, which provides 2x daily leveraged exposure to IREN, has dropped steeply over the past week amid broader market volatility.