# Volatility Shares LLC

> Volatility Shares LLC is an SEC-registered investment advisory firm in Palm Beach Gardens, FL, registered since 2022, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 23, 2026.

- CRD: 321955
- Filed as: VOLATILITY SHARES LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Palm Beach Gardens, FL
- Filing period: October 2026
- Form ADV filing dated: March 23, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/321955
- AdvisorCensus page: https://advisorcensus.com/firm/volatility-shares-llc-palm-beach-gardens-fl-321955

## Quick answers

**How is Volatility Shares LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Volatility Shares LLC reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Volatility Shares LLC located?**
Volatility Shares LLC's principal office is in Palm Beach Gardens, FL, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Volatility Shares LLC registered with the SEC or a state?**
Volatility Shares LLC is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 321955.

**How much does Volatility Shares LLC manage?**
Volatility Shares LLC reports $2,044,322,328 in regulatory assets under management in its Form ADV filing dated March 23, 2026 (100% discretionary).

**How have Volatility Shares LLC's assets and staff changed since 2022?**
In the Form ADV data for Volatility Shares LLC: Regulatory assets under management: $100,000 in the October 2023 data and $2,044,322,328 in the October 2026 data, up 2044222%. Total employees: 3 in October 2022 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Volatility Shares LLC serve?**
By number of clients on Form ADV Item 5.D: investment companies (9).

**Does Volatility Shares LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/321955

**What changed in Volatility Shares LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 9 to 10. Regulatory assets under management went from $4,020,639,561 to $2,044,322,328 (-49%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Regulatory assets under management (Item 5.F)
- Total: $2,044,322,328
- Discretionary: $2,044,322,328
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | Not reported | $0 |
| High net worth individuals | Not reported | $0 |
| Banking or thrift institutions | Not reported | $0 |
| Investment companies | 9 | $2,044,322,328 |
| Business development companies | Not reported | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | Not reported | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Not reported | $0 |
| Charitable organizations | Not reported | $0 |
| State or municipal government entities (including government pension plans) | Not reported | $0 |
| Other investment advisers | Not reported | $0 |
| Insurance companies | Not reported | $0 |
| Sovereign wealth funds and foreign official institutions | Not reported | $0 |
| Corporations or other businesses not listed above | Not reported | $0 |
| Other | Not reported | $0 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)

### Firm details
- Registered since: 2022 (4 years)
- Employees: 10 total, 10 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Chicago, IL

### Websites listed on Form ADV (Item 1.I)
- volatilityshares.com
- Facebook @Volatility-Shares
- LinkedIn @volatility-shares
- X @VolShares
- YouTube @VolatilityShares

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | Not reported | 3 | July 1, 2022 |
| October 2023 | $100,000 | 3 | March 29, 2023 |
| October 2024 | $538,280,491 | 5 | March 28, 2024 |
| October 2025 | $4,020,639,561 | 9 | March 28, 2025 |
| October 2026 | $2,044,322,328 | 10 | March 23, 2026 |

Regulatory assets under management: $100,000 in the October 2023 data and $2,044,322,328 in the October 2026 data, up 2044222%.
Total employees: 3 in October 2022 and 10 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 9 to 10.
- Regulatory assets under management went from $4,020,639,561 to $2,044,322,328 (-49%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Volatility Shares LLC (CRD 321955): Form ADV filing data as of October 2026.