Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 541

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 3
Chunk 541
---
, 2025, as if they occurred at the commencement of operations.

The Funds made no distributions to Shareholders
during the fiscal year ended December 31, 2023. The Funds have no obligation to make periodic distributions to Shareholders.

    b)
    The following tables reflect
    the shares sold and the sale price of the shares sold for three months and for the year ended December 31, 2024 and December 31,
    2023.

    Title of Securities Registered 
    Amount Registered as of December 31, 2024 
    Shares Sold  For the 
    Three Months Ended December 31, 2024(1)  
    Sale Price of  Shares Sold For
    the  Three Months
Ended December 31, 2024  
    Shares Sold  For the
    Year Ended December 31, 2024(1)  
    Sale Price of  Shares Sold For the 
Year Ended December 31,  2024 
  
    -1x Short VIX Futures ETF 

    Common Units of Beneficial Interest 
    An indeterminant amount of securities 
     3,410,000  
    $88,657,561  
     29,460,000  
    $828,649,566 
  
    2x Long VIX Futures ETF 

    Common Units of Beneficial Interest 
    An indeterminant amount of securities 
     9,561,000  
     349,935,390  
     15,789,000  
     742,224,982 

(1)For 2x Long VIX Futures ETF, financial highlights have
been adjusted to reflect a 1:10 reverse stock split on January 15, 2025, as if it occurred at the commencement of operations.

18

    Title of Securities Registered 
    Amount Registered as of December 31, 2023 
    Shares
    Sold For the  Three Months
Ended December 31, 2023(1)  
    Sale Price of Shares Sold For
    the  Three Months
Ended December 31,  2023  
    Shares
    Sold For the  Year Ended December 31, 2023(1)  
    Sale Price of Shares Sold For the
 Year Ended December 31,  2023 
  
    -1x Short VIX Futures ETF 

    Common