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        <name>COMMODITY EXCHANGE, INC.</name>
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        <curCd>USD</curCd>
        <valUSD>-105.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>ICE FUTURES U.S., INC.</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ICE FUTURES U.S., INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
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      <invstOrSec>
        <name>ICE FUTURES U.S., INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>ICE FUTURES U.S., INC.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>COMMODITY EXCHANGE, INC.</name>
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          <ticker value="HGZ5"/>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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      <invstOrSec>
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      </invstOrSec>
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    <signature>
      <ncom:dateSigned>2025-08-25</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>
</edgarSubmission>
