DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
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SEC-registered adviser
V••••••••• S••••• L••
Latest filing Mar 23, 2026
First filing on the tape Jul 1, 2022 · 6 filings
SEC status approved since Jul 29, 2022
RAUM
$2.0B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
10
10 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
6 filings and snapshots on the tape
RAUM$2.0B as of Mar 23, 2026
Mar 29, 2023$100,000 then
HNW client RAUM$0 as of Mar 23, 2026
Mar 29, 2023$0 then
State-registered IARs (5.B.3)0 as of Mar 23, 2026
Mar 29, 20233 then
Employees (5.A)10 as of Mar 23, 2026
Mar 29, 20233 then
Private funds: no history
RAUM -49% over the last fiscal year+2634% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 23, 2026; every figure names its basis
- RAUM per advisor
- unknownderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- unknownderivedHNW RAUM over HNW clients
- Average account
- $227MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- -49%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- portfolio management for investment companiesreportedItem 5.G
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Investment companies$2.0B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 9reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
Joined, latest
none on the tape
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- B•••••• S•••••• J••• · Ciocontrolsince 07/2019 · owns less than 5%
- K••• C••••• Y•••• · Cco & Coocontrolsince 01/2022 · owns 10% to 25%
- Y••••• J•••••• P••• · Presidentcontrolsince 07/2019 · owns less than 5%
- B•••••• S•••••• J••• · Membercontrolsince 11/2014 · owns 75% or more of C••••• P••••••• L••
- Y••••• J•••••• P••• · Membercontrolsince 01/2021 · owns 75% or more of J••••• Y•••• H••••••• L••
Entity owners
- M•••••• L•• · Memberdirect · owns 75% or more
- C••••• P••••••• L•• · Memberindirect · owns 50% to 75% of M•••••• L••
- J••••• Y•••• H••••••• L•• · Memberindirect · owns 25% to 50% of M•••••• L••
Related persons
Schedule D 7.A
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- RAUM down 25 %Change between filings · filing Mar 23, 2026RAUM (Item 5.F) moved from $4,020,639,561 to $2,044,322,328 (-49.0%) between the annual amendments of 2025-03-28 and 2026-03-23; the peer median change was +11.0% (1368 comparable advisers, 1.0th percentile of changes)peers: asset managers, $1B to $5B (1,368) · 1.2% percentile
What changed
consecutive filings, newest first
- Accounts · 14 to 9Mar 28, 2025 to Mar 23, 2026
- Advisory employees · 9 to 10Mar 28, 2025 to Mar 23, 2026
- Advisory activities · 2 to 1Mar 28, 2025 to Mar 23, 2026
- Employees · 9 to 10Mar 28, 2025 to Mar 23, 2026
- Discretionary RAUM · $4.0B to $2.0BMar 28, 2025 to Mar 23, 2026
- RAUM · $4.0B to $2.0BMar 28, 2025 to Mar 23, 2026
- Accounts · 5 to 14Mar 28, 2024 to Mar 28, 2025
- Advisory employees · 5 to 9Mar 28, 2024 to Mar 28, 2025
- Employees · 5 to 9Mar 28, 2024 to Mar 28, 2025
- Financial planning clients · 0 to 0Mar 28, 2024 to Mar 28, 2025
- Other offices · 0 to 1Mar 28, 2024 to Mar 28, 2025
- Discretionary RAUM · $538M to $4.0BMar 28, 2024 to Mar 28, 2025
- RAUM · $538M to $4.0BMar 28, 2024 to Mar 28, 2025
- Accounts · 1 to 5Mar 29, 2023 to Mar 28, 2024
- Advisory employees · 3 to 5Mar 29, 2023 to Mar 28, 2024
- Employees · 3 to 5Mar 29, 2023 to Mar 28, 2024
- Insurance-licensed employees · 3 to 0Mar 29, 2023 to Mar 28, 2024
- Financial planning clients · unset to 0Mar 29, 2023 to Mar 28, 2024
- State-registered IARs · 3 to 0Mar 29, 2023 to Mar 28, 2024
- Other offices · 1 to 0Mar 29, 2023 to Mar 28, 2024
- Discretionary RAUM · $100,000 to $538MMar 29, 2023 to Mar 28, 2024
- RAUM · $100,000 to $538MMar 29, 2023 to Mar 28, 2024
- Related adviser · true to falseMar 29, 2023 to Mar 28, 2024
- Advisory activities · 1 to 2Nov 23, 2022 to Mar 29, 2023
- Financial planning clients · 0 to unsetNov 23, 2022 to Mar 29, 2023
- Accounts · unset to 1.0Jul 1, 2022 to Nov 23, 2022
- Financial planning clients · unset to 0Jul 1, 2022 to Nov 23, 2022
- Discretionary RAUM · unset to 100000.0Jul 1, 2022 to Nov 23, 2022
- Non-discretionary RAUM · unset to 0.0Jul 1, 2022 to Nov 23, 2022
- RAUM · unset to 100000.0Jul 1, 2022 to Nov 23, 2022
Signals
3 dated events
- V••••••••• S••••• L•• reported RAUM $2.0B, down 49% from $4.0B (2025-03-28 to 2026-03-23)Mar 23, 2026 · ria raum c••••e · derived
- V••••••••• S••••• L•• reported RAUM $4.0B, up 647% from $538.3M (2024-03-28 to 2025-03-28)Mar 28, 2025 · ria raum c••••e · derived
- V••••••••• S••••• L•• filed its initial SEC registration (Form ADV)Jul 1, 2022 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/volatility-sharesreportedpublic record, Form ADV, Sep 19, 2026
- Website
- volatilityshares.comreportedpublic record, Form ADV, Sep 19, 2026
- Principal office phone
- 866-261-0273reportedpublic record, Form ADV, Mar 23, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
- RAUM per advisor
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026