The Defiance AI Capacitors Leaders ETF (CAPA) launched on the BATS exchange, becoming the first U.S.-listed fund focused on the capacitor supply chain supporting artificial-intelligence infrastructure. It tracks the BITA AI Capacitors Leaders Index, which covers 10 companies involved in multilayer ceramic capacitors (MLCCs), conductive polymer capacitors, and server-grade aluminum electrolytic and polymer hybrid capacitors. The portfolio is heavily concentrated in Asian manufacturers, led by TDK Corp. at 23%, Samsung Electro-Mechanics at 20.2%, Murata Manufacturing at 18.3%, Kyocera at 15.5%, and Yageo at 14.9%; the five largest holdings account for more than 90% of the index. Defiance says AI servers can require tens of thousands of capacitors as power demands rise. Murata expects MLCC shipments into AI servers to grow about 30% annually through 2030. CAPA offers targeted exposure to a narrow segment of AI hardware rather than a broad technology fund and carries associated technology, regional, currency, trade-policy, tariff, and export-control risks.