Company: DEFI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001999371-25-017892
Chunk: 35

Company: Tidal Commodities Trust I
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 35
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 The Fund bears other
transaction costs related to the FCM 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, Sub-Administrator, Custodians, Marketing Agent, Transfer Agent, 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.

F-27 

Income Taxes

For U.S. federal income tax purposes, the
Fund will be treated as a partnership. Therefore, the Fund does not record a provision for income taxes because the partners report
their share of the Fund’s income or loss on their income tax returns. The financial statements reflect the Fund’s transactions
without adjustment, if any, required for income tax purposes.

Item 3. Quantitative and Qualitative Disclosures About Market
Risk

Not applicable.

Item 4. Controls and Procedures

Disclosure Controls and Procedures

The Trust and the Fund maintain disclosure
controls and procedures that are designed to ensure that information required to be disclosed in the Trust’s periodic reports
filed or submitted under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) is recorded, processed,
summarized and reported within the time period specified in the SEC’s rules and forms for the Trust and the Fund thereof.

Management of the Sponsor of the Fund (“Management”),
including Guillermo Trias, the Sponsor’s Principal Executive Officer and Ronnie Riven, the Sponsor’s Principal Financial
Officer, who perform functions equivalent to those of a principal executive officer and principal financial officer of the Trust
if the Trust had any officers, have evaluated the effectiveness of the design and operation of the Trust and the Fund’s disclosure
controls and procedures (as defined in Rule 13a-15(e) or 15d- 15(e) of the Securities Exchange Act of