Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 1384

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9C
Chunk 1384
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 overall presentation of the combined financial statements and financial
statements. Our procedures included confirmation of securities owned as of December 31, 2024 by correspondence with the custodian and
brokers. We believe that our audits provide a reasonable basis for our opinion.

     TAIT, WELLER & BAKER LLP
      
 Philadelphia, Pennsylvania    
 March 28, 2025    

F-2

VS Trust

Statements of Assets and Liabilities

    -1x
    Short VIX  Futures ETF  
    2x
    Long VIX  Futures ETF  
    -1x
    Short VIX  Futures ETF  
    2x
    Long VIX  Futures ETF 

    December
    31,  2024  
    December
    31,  2024  
    December
    31,  2023  
    December
    31,  2023 
  
    ASSETS 

    Cash 
    $-  
    $1,189,437  
    $5,032,398  
    $- 
  
    Investments
    in securities, at value * 
     114,106,682  
     52,819,184  
     14,917,099  
     8,009,153 
  
    Interest
    receivable 
     595,610  
     383,703  
     117,866  
     58,172 
  
    Prepaid
    expenses and other assets 
     13,472  
     52,844  
     16,781  
     31,493 
  
    Deposits
    at Broker for Futures and Options Contracts 
     206,471,251  
     130,007,592  
     115,003,174  
     61,750,311 
  
    Variation
    margin receivable 
     -  
     4,152,478  
     -  
     148,593 
  
    Other
    receivable 
     4,952  
     -  
     2,839  
     - 
  
    Total
    Assets 
     321,191,967  
     188,605,238  
     135,090,157  
     69,997,722