Volatility Shares Trust - One+One S&P 500 and Bitcoin ETF

OOSB provides exposure to the S&P 500 and Bitcoin. The fund aims for long-term capital appreciation by using leverage through US-listed futures, pooled investment vehicles, and collateral. The fund targets 100% notional exposure for the returns of each component or an aggregate of 200%. The strategy seeks to magnify exposure so that every $1 investment is $1 exposure each to the S&P 500 and Bitcoin. The fund does not invest directly in Bitcoin but uses Bitcoin price reflected in the next or second-to-next expiring futures contract. In the case of other Bitcoin-linked investments, value is calculated by the average. Through a wholly owned Cayman Islands subsidiary, the fund invests in futures, ETPs with similar exposure, equities, and cash and cash equivalents. The actively managed ETF has full discretion to adjust the portfolio at any given time, while maintaining its tax status. Therefore, tracking deviation may be greater than the performance of the S&P 500 or Bitcoin.