Volatility Shares Files 30 Team-Specific Basketball ETFs

Volatility Shares has filed for 30 professional basketball team ETFs, with one fund corresponding to each team in the league. The funds would not invest in the franchises themselves. Instead, each would gain exposure primarily through cash-settled futures tied to a CME team-specific Sports Performance Index. The indexes start each season at 7,500 and move based on official play-by-play statistics and game results throughout the regular season and playoffs, before resetting after the postseason. The ETFs would use Cayman subsidiaries for futures exposure and hold Treasuries and other high-quality securities as collateral. The index methodology is rules-based, with positive actions adding points and negative actions subtracting points. Performance of other teams generally does not affect a team’s index except through head-to-head games. The funds may also use options, swaps and other instruments when needed to maintain exposure.