Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 1372

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9C
Chunk 1372
---
Item 9C. Disclosure Regarding Jurisdictions that Prevent Inspections.

Not applicable.

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Part III.

Item 10. Directors, Executive Officers and Corporate Governance.

The Sponsor

Volatility Shares LLC, is the Sponsor of the Trust
and the Funds. As noted above, the Sponsor has exclusive management and control of all aspects of the business of the Funds. The Trustee
has no duty or liability to supervise the performance of the Sponsor, nor will the Trustee have any liability for the acts or omissions
of the Sponsor.

As of December 31, 2024, the Sponsor serves as
the Trust’s commodity pool operator. Specifically, with respect to the Trust, the Sponsor:

    ●
    Manages and directs the Funds’ portfolio of Financial
    Instruments and other assets, including cash and cash equivalents;

    ●
    selects the Funds’ service providers;

    ●
    negotiates various agreements and fees;

    ●
    performs such other services as the Sponsor believes
    that the Trust may require from time to time;

    ●
    selects the FCM and Financial Instrument counterparties,
    if any; and

    ●
    Oversees the Commodity
    Sub-Adviser’s management of the Funds’ portfolio of Financial Instruments and other assets, including cash equivalents.

The Shares are not deposits or other obligations
of the Sponsor, the Trustee or any of their respective subsidiaries or affiliates or any other bank, are not guaranteed by the Sponsor,
the Trustee or any of their respective subsidiaries or affiliates or any other bank and are not insured by the Federal Deposit Insurance
Corporation (the “FDIC”) or any other governmental agency. An investment in the Shares of the Fund offered hereby is speculative
and involves a high degree of risk.

The principal office of the Sponsor is located
at 2000 PGA Boulevard, Suite 4440, Palm Beach Gardens, FL 33408. The telephone number of the Sponsor and the Trust is (866) 261-0273.

30

Background and Principals

As of December 31, 2024, Volatility Shares LLC,
the Sponsor, is a limited liability company formed in Delaware on July 25, 2019. The Sponsor was formed for the purpose of sponsoring
volatility-linked exchange-traded funds, of which the Funds are the first. Prior to its engagement as Sponsor of the Funds, the Sponsor
had no operating history.

The Sponsor currently serves as the commodity
pool