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        <name>MONTREAL EXCHANGE INC.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>COMMODITY EXCHANGE, INC.</name>
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        <curCd>USD</curCd>
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        <name>ICE FUTURES U.S., INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>ICE FUTURES U.S., INC.</counterpartyName>
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      <invstOrSec>
        <name>MONTREAL EXCHANGE INC.</name>
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        <fairValLevel>1</fairValLevel>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>NEW YORK MERCANTILE EXCHANGE, INC.</name>
        <lei>5493008GFNDTXFPHWI47</lei>
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          <other otherDesc="ID_BB_GLOBAL" value="BBG013P139H1"/>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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      <invstOrSec>
        <name>NEW YORK MERCANTILE EXCHANGE, INC.</name>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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      <invstOrSec>
        <name>MONTREAL EXCHANGE INC.</name>
        <lei>549300DKBYNOI0B1NP44</lei>
        <title>CAN 2YR BOND</title>
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          <ticker value="CVM5"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>MONTREAL EXCHANGE INC.</counterpartyName>
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      <invstOrSec>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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      <invstOrSec>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>ICE FUTURES U.S., INC.</name>
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      <invstOrSec>
        <name>MONTREAL EXCHANGE INC.</name>
        <lei>549300DKBYNOI0B1NP44</lei>
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        <name>ICE FUTURES U.S., INC.</name>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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                <issuerName>THE SECURED OVERNIGHT FINANCING RATE</issuerName>
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        <name>COMMODITY EXCHANGE, INC.</name>
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        <name>TREASURY BILL</name>
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        <name>TREASURY BILL</name>
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      </invstOrSec>
      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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            <payOffProf>Short</payOffProf>
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            <expDate>2025-09-12</expDate>
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        <securityLending>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-05-23</ncom:dateSigned>
      <ncom:nameOfApplicant>Simplify Exchange Traded Funds</ncom:nameOfApplicant>
      <ncom:signature>Paul Kim</ncom:signature>
      <ncom:signerName>Paul Kim</ncom:signerName>
      <ncom:title>Trustee, President and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
