SEC Comment Letter 0000000000-23-004002 to VS Trust (SVIX, UVIX) (CIK 0001793497) (SVIX)
VS Trust (SVIX, UVIX) (CIK 0001793497)
Date: April 20, 2023 · CIK: 0001793497 · Accession: 0000000000-23-004002
AI Filing Summary & Sentiment
File numbers found in text: 333-248430
Letter
United States securities and exchange commission logo April 20, 2023 Justin Young Principal Executive Officer VS Trust Volatility Shares LLC 2000 PGA Boulevard, Suite 4440 Palm Beach Gardens, FL 33408 Re:VS Trust Post-Effective Amendment No. 2 to Form S-1 Filed April 6, 2023 File No. 333-248430 Dear Justin Young: We have reviewed your post-effective amendment and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comment applies to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to this comment, we may have additional comments. Post-Effective Amendment No. 2 to Registration Statement on Form S-1 The Funds, page 5 1.We note that you have added disclosure to this section stating that “[t]he Funds also may invest in SPIKES futures contracts.” Please tell us whether and to what extent the Funds have invested in SPIKES futures contracts to date. Please also tell us whether CBOE BZX Exchange has, or intends to, update its listing rules to include SPIKES futures contracts as permitted investments.
FirstName LastNameJustin Young Comapany NameVS Trust April 20, 2023 Page 2 FirstName LastName Justin Young VS Trust April 20, 2023 Page 2 We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Eric Envall at (202) 551-3234 or Justin Dobbie at (202) 551-3469 with any questions. Sincerely, Division of Corporation Finance Office of Crypto Assets
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United States securities and exchange commission logo
April 20, 2023
Justin Young
Principal Executive Officer
VS Trust
Volatility Shares LLC
2000 PGA Boulevard, Suite 4440
Palm Beach Gardens, FL 33408
Re:VS Trust
Post-Effective Amendment No. 2 to Form S-1
Filed April 6, 2023
File No. 333-248430
Dear Justin Young:
We have reviewed your post-effective amendment and have the following comment. In
our comment, we may ask you to provide us with information so we may better understand your
disclosure.
Please respond to this letter by amending your registration statement and providing the
requested information. If you do not believe our comment applies to your facts and
circumstances or do not believe an amendment is appropriate, please tell us why in your
response.
After reviewing any amendment to your registration statement and the information you
provide in response to this comment, we may have additional comments.
Post-Effective Amendment No. 2 to Registration Statement on Form S-1
The Funds, page 5
1.We note that you have added disclosure to this section stating that “[t]he Funds also may
invest in SPIKES futures contracts.” Please tell us whether and to what extent the Funds
have invested in SPIKES futures contracts to date. Please also tell us whether CBOE
BZX Exchange has, or intends to, update its listing rules to include SPIKES futures
contracts as permitted investments.
FirstName LastNameJustin Young
Comapany NameVS Trust
April 20, 2023 Page 2
FirstName LastName
Justin Young
VS Trust
April 20, 2023
Page 2
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
Please contact Eric Envall at (202) 551-3234 or Justin Dobbie at (202) 551-3469 with
any questions.
Sincerely,
Division of Corporation Finance
Office of Crypto Assets