<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/twentyfourf2filer" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0101</schemaVersion>
  <headerData>
    <submissionType>24F-2NT</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001829774</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <flags>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-1A</investmentCompanyType>
    </filerInfo>
  </headerData>
  <formData>
    <annualFilings>
      <annualFilingInfo>
        <item1>
          <nameOfIssuer>James Alpha Funds Trust</nameOfIssuer>
          <addressOfIssuer>
            <street1>515 Madison Avenue</street1>
            <city>New York</city>
            <state>NY</state>
            <country>X1</country>
            <zipCode>10022</zipCode>
          </addressOfIssuer>
        </item1>
        <item2>
          <reportSeriesClass>
            <rptSeriesClassInfo>
              <seriesName>Easterly EHS Fund</seriesName>
              <seriesId>S000070605</seriesId>
              <classInfo>
                <className>Easterly EHS Fund Class R6</className>
                <classId>C000224281</classId>
              </classInfo>
              <classInfo>
                <className>Easterly EHS Fund Class I</className>
                <classId>C000224282</classId>
              </classInfo>
            </rptSeriesClassInfo>
            <rptSeriesClassInfo>
              <seriesName>Easterly Income Opportunities Fund</seriesName>
              <seriesId>S000070607</seriesId>
              <classInfo>
                <className>Easterly Income Opportunities Fund Class A</className>
                <classId>C000224285</classId>
              </classInfo>
              <classInfo>
                <className>Easterly Income Opportunities Fund Class C</className>
                <classId>C000224286</classId>
              </classInfo>
              <classInfo>
                <className>Easterly Income Opportunities Fund Class R6</className>
                <classId>C000224287</classId>
              </classInfo>
              <classInfo>
                <className>Easterly Income Opportunities Fund Class I</className>
                <classId>C000224288</classId>
              </classInfo>
            </rptSeriesClassInfo>
            <rptSeriesClassInfo>
              <seriesName>Easterly Total Hedge Portfolio</seriesName>
              <seriesId>S000070608</seriesId>
              <classInfo>
                <className>Easterly Total Hedge Portfolio Class I</className>
                <classId>C000224289</classId>
              </classInfo>
              <classInfo>
                <className>Easterly Total Hedge Portfolio Class R6</className>
                <classId>C000224290</classId>
              </classInfo>
            </rptSeriesClassInfo>
          </reportSeriesClass>
        </item2>
        <item3>
          <investmentCompActFileNo>811-23611</investmentCompActFileNo>
          <securitiesActFileNumbers>
            <securitiesActFileNo>
              <fileNumber>333-249652</fileNumber>
            </securitiesActFileNo>
          </securitiesActFileNumbers>
        </item3>
        <item4>
          <lastDayOfFiscalYear>11/30/2021</lastDayOfFiscalYear>
          <isThisFormBeingFiledLate>false</isThisFormBeingFiledLate>
        </item4>
        <item5>
          <aggregateSalePriceOfSecuritiesSold>252900057.00</aggregateSalePriceOfSecuritiesSold>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>138107384.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>0.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>
          <totalAvailableRedemptionCredits>138107384.00</totalAvailableRedemptionCredits>
          <netSales>114792673.00</netSales>
          <redemptionCreditsAvailableForUseInFutureYears>0.00</redemptionCreditsAvailableForUseInFutureYears>
          <multiplierForDeterminingRegistrationFee>0.0000927</multiplierForDeterminingRegistrationFee>
          <registrationFeeDue>10641.28</registrationFeeDue>
        </item5>
        <item8>
          <totalOfRegistrationFeePlusAnyInterestDue>10641.28</totalOfRegistrationFeePlusAnyInterestDue>
        </item8>
        <signature>
          <signature>/s/ Erik Naviloff</signature>
          <nameAndTitle>Erik Naviloff Assistant Treasurer</nameAndTitle>
          <signatureDate>02/10/2022</signatureDate>
        </signature>
      </annualFilingInfo>
    </annualFilings>
  </formData>
</edgarSubmission>
