Company: DEFI
Filing Date: 2025-11-04
Form Type: POS AM
Source: 0001999371-25-016766
Chunk: 6

Company: Tidal Commodities Trust I
Filing Date: 2025-11-04
Form: POS AM
Chunk 6
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 decline in adoption or acceptance of bitcoin.                                      |

| ● | Scalability                                                 
 as the use of bitcoin expands to a greater number of users. |

The Fund is organized as a series of the Trust, a Delaware statutory trust organized on February 10, 2023. The Trust and the Fund operate pursuant to the Trust Agreement, dated [●], 2025. The Trust Agreement may be found on the SEC’s EDGAR filing database at [●]. The Fund was formed and is managed and controlled by the Sponsor, a Cayman Islands investment manager (and an Exempt Reporting Advisor under SEC rules) that specializes in, among other things, the management, research, investment analysis and other investment support services of funds and ETFs with investment strategies involving bitcoin and other crypto assets. The Fund intends to be treated as a publicly traded partnership that is not taxable as a corporation for U.S. federal income tax purposes. Effective after the close of trading on [ ], 2025, Tidal Sponsor, as the prior sponsor of the Trust, transferred the roles of the Tidal Sponsor to the Sponsor. 2 The Benchmark Methodology The Benchmark is governed by the Nasdaq Crypto Index Oversight Committee (“CIOC”), which is responsible for implementation, administration, and oversight of the Benchmark, including its cessation. The CIOC shall approve any material changes to the methodology and review the Benchmark methodology at least on an annual basis. The final Benchmark is calculated once every trading day and it is given by a weighted average across the settlement prices of the following “Core Exchanges” (as of [ ], 2025): Bitstamp, Coinbase, Gemini, itBit, Kraken and LMAX Digital. The Benchmark was launched by Nasdaq on June 9, 2021 and is designed to track the price performance of bitcoin. Specifically, the Benchmark attempts to track the average bitcoin spot price by capturing the notional value of bitcoin USD transactions reported by selected public data sources as measured by Nasdaq, Inc (“Nasdaq”). The Benchmark applies a rules-based pricing methodology to a diverse collection of pricing sources to provide a reference price for bitcoin and the pricing methodology is designed to account for variances in price across a wide range of sources which have been vetted according to criteria identified in the methodology document. The Benchmark is owned and administered by Nasdaq and may be changed from time to time. Detailed rules on the Benchmark administration and governance may be found at Nasdaq’s website. The Benchmark does not track the overall performance of all digital assets generally,