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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-29</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>FIDELITY INV MMTRSY 1 680</name>
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        <title>FIDELITY INV MMTRSY 1 680</title>
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          <other otherDesc="INTERNAL" value="X9USDFIDT"/>
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        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
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        <name>TREASURY BILL</name>
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        <title>United States Treasury Bill</title>
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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>
