Volatility Shares to split UVIX shares 1-for-20

Volatility Shares said its 2x Long VIX Futures ETF, UVIX, will undergo a 1-for-20 reverse share split at the market open on July 1, 2026. The split changes the share count and price per share, but not the overall value of a shareholder’s investment.

Why it matters: - The reverse split changes UVIX’s share price and share count without changing the value of a shareholder’s position. - The move can improve trading optics and align the ETF with exchange and product requirements, while leaving investor economics unchanged. - Shareholders with fractional shares may face cash redemption and possible tax consequences.

What happened: - Volatility Shares LLC, on behalf of VS Trust, announced a 1-for-20 reverse share split for the 2x Long VIX Futures ETF. - The split takes effect at the market open on July 1, 2026. - UVIX will keep the same ticker symbol. - The fund will receive a new CUSIP number: 92891H705. - The old CUSIP is 92891H606.

The details: - Every 20 pre-split shares will convert into one post-split share. - Each post-split share will be priced at 20 times the net asset value of a pre-split share. - The split will increase the net asset value per share and reduce the number of shares outstanding proportionately. - Fractional shares created by the split will be redeemed for cash and sent to the shareholder’s broker of record. - Those cash redemptions may create gains or losses for some investors and could be a taxable event. - Volatility Shares is a commodity pool operator registered with the National Futures Association and a registered investment adviser registered with the Securities and Exchange Commission. - A prospectus or summary prospectus is available by calling 866.261.0273 or visiting the company website. - Foreside Fund Services, LLC is the marketing agent for UVIX.

Between the lines: - Reverse splits do not alter the fund’s underlying exposure, but they can reduce the number of outstanding shares and lift the quoted share price. - The cash-out of fractional shares is the main investor-level wrinkle, especially for holders with odd share counts. - The notice includes standard risk disclosures that the fund involves risk, including possible loss of principal.

What's next: - UVIX is set to begin trading on a post-split basis on July 1, 2026. - Shareholders who receive fractional-share cash redemptions should expect their broker of record to handle the payment process. - Investors seeking fund documents can request the prospectus or summary prospectus before the split takes effect.