Company: DEFI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001999371-25-006264
Chunk: 11

Company: Tidal Commodities Trust I
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 11
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 per weighted average
unit. The weighted average units are equal to the number of units outstanding at the end of the period, adjusted proportionately
for units created or redeemed based on the amount of time the units were outstanding during such period.

F-17 

Note
2 – Sponsor Fee Allocation of Expenses and Related Party Transactions

Effective
February 10, 2025, the Fund pays the Sponsor a management fee, monthly in arrears, in an amount equal to 0.25% per annum of the
daily net assets of the Fund (the “Management Fee”). Prior to February 10, 2025, the annualized rate was 0.90%. The Management Fee is paid in consideration
of the Sponsor’s services related to the management of the Fund’s business and affairs, including the provision of
commodity futures trading advisory services. Purchases of creation units with cash may cause the Fund to incur certain costs including
brokerage commissions and redemptions of creation units with cash may result in the recognition of gains or losses that the Fund
might not have incurred if it had made redemptions in-kind. The Fund pays all of its respective brokerage commissions, including
applicable exchange fees, National Futures Association fees and give-up fees, and other transaction related fees and expenses
charged in connection with trading activities for the Fund’s investments in CFTC regulated investments. The Fund bears other
transaction costs related to the FCM’s capital requirements on a monthly basis. The Sponsor pays all of the routine operational,
administrative and other ordinary expenses of the Fund, generally as determined by the Sponsor, including but not limited to,
fees and expenses of the Administrator (as defined below), Sub-Administrator, Cash Custodian and Bitcoin Custodian
(as defined below), Marketing Agent (as defined below), Transfer Agent (as defined below), licensors, accounting and audit fees
and expenses, tax preparation expenses, legal fees, ongoing SEC registration fees, individual Schedule K-1 preparation and mailing
fees, and report preparation and mailing expenses. The Fund pays all of its non-recurring and unusual fees and expenses, if any,
as determined by the Sponsor. Non-recurring and unusual fees and expenses are unexpected or unusual in nature, such as legal claims
and liabilities and litigation costs or indemnification or other unanticipated expenses. Extraordinary fees and expenses also include
material expenses which are not currently anticipated obligations of the Fund. Routine operational, administrative and other ordinary
expenses are not deemed extraordinary expenses.