Defiance ETFs has filed with the SEC to launch two new funds, the Nvidia Ventures ETF and the Google Ventures ETF, aimed at tracking companies directly invested in by Nvidia and Google Ventures, respectively. These ETFs will focus on strategic partners and investees of the tech giants, potentially including both public and private companies. The filings, submitted on May 22, continue Defiance's strategy of creating thematic ETFs centered on disruptive innovation. The Nvidia Ventures ETF will target companies involved in AI infrastructure and related sectors, while the Google Ventures ETF will cover a broader range of industries backed by Google's investment arm, GV. Specific tickers, holdings, and fee structures have not yet been disclosed. The inclusion of private companies in these ETFs could present challenges related to liquidity and valuation, as well as concentration risks, particularly for the Nvidia-focused fund.