Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 1578

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 11
Chunk 1578
---

  
    -1x Short VIX Futures ETF 
    $-  
    $            -  
    $- 
    $3,655,035  
    $            -  
    $3,655,035 
  
    2x Long VIX Futures ETF 
     4,152,478  
     -  
     4,152,478  
     -  
     -  
     - 

    Fair Values of Derivative Instruments as of December 31, 2023

    Assets

    Liabilities

    Fund
     
    Gross
 Amounts of  Recognized Assets
 presented in the Statements of 
Financial Condition

    Gross 
Amounts 
Offset in 
the
    
Statements
 of Financial
 Condition

    Net 
Amounts of
 Assets
 presented 
in the
 Statements
 of Financial
 Condition

    Gross
 Amounts of  Recognized
 Liabilities
 presented 
in the
 Statements
of Financial
 Condition

    Gross 
Amounts
 Offset in 
the 
Statements
of Financial 
Condition

    Net
 Amounts of  Liabilities
 presented
 in the
 Statements
 of Financial
 Condition

    -1x Short VIX Futures ETF
     
    $
    -

    $
            -

    $
    -

    $
    204,703

    $
              -

    $
    204,703

    2x Long VIX Futures ETF

    148,593

    -

    148,593

    -

    -

    -

Asset (Liability) amounts shown in the table below
represent amounts owed to (by) the Funds for the derivative-related investments at December 31, 2023 and December 31, 2024. These amounts
may be collateralized by cash or financial instruments, segregated for the benefit of the Funds or the counterparties, depending on whether
the related contracts are in an appreciated or depreciated position at period end. Amounts shown in the column labeled “Net Amount”
represent the uncollateralized portions of these amounts at period end. These amounts may be un-collateralized due to timing differences
related to market movements or due to minimum thresholds for collateral movement, as further described above under the caption “Accounting
for Derivative Instruments”.

F-33

    Gross Amounts Not Offset in the Statements of Financial Condition as of December