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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CME Group Inc.</name>
        <lei>KJNXBSWZVIKEX4NFOL81</lei>
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        <curCd>USD</curCd>
        <valUSD>-1173000.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>THE LONDON METAL EXCHANGE</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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          <ticker value="ZS X26"/>
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        <curCd>USD</curCd>
        <valUSD>-366579.56000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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    <signature>
      <ncom:dateSigned>2026-08-28</ncom:dateSigned>
      <ncom:nameOfApplicant>USCF ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Kenneth A. Kalina</ncom:signature>
      <ncom:signerName>Kenneth A. Kalina</ncom:signerName>
      <ncom:title>CCO</ncom:title>
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  </formData>
</edgarSubmission>
