<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/rega/onekfiler" xmlns:ns1="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>1-K</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001979634</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <flags>
        <shellCompanyFlag>N</shellCompanyFlag>
        <successorFilingFlag>N</successorFilingFlag>
        <returnCopyFlag>true</returnCopyFlag>
      </flags>
      <reportingPeriod>12-31-2023</reportingPeriod>
    </filerInfo>
  </headerData>
  <formData>
    <item1>
      <formIndication>Annual Report</formIndication>
      <fiscalYearEnd>12-31-2023</fiscalYearEnd>
      <street1>225 LIBERTY STREET, 29TH FLOOR</street1>
      <city>NEW YORK</city>
      <stateOrCountry>NY</stateOrCountry>
      <zipCode>10281</zipCode>
      <phoneNumber>203-518-5172</phoneNumber>
      <issuedSecuritiesTitle>Series 301, 302, 303, 304, 305, 306, 307, 308, 310, 311, 312, 313, 314, 317, 321, 324, 328, 331, 333, 335, 341, 342, 347, 378, 379, 382, 394, 397, 399, 401, 402, 406, 408, 409, 410, Series Masterworks Vault 2, LLC Class A Ordinary Shares</issuedSecuritiesTitle>
    </item1>
    <item1Info>
      <issuerName>Masterworks Vault 2, LLC</issuerName>
      <cik>0001979634</cik>
      <jurisdictionOrganization>DE</jurisdictionOrganization>
      <irsNum>93-1570482</irsNum>
    </item1Info>
    <item2>
      <regArule257>true</regArule257>
    </item2>
  </formData>
</edgarSubmission>
