Company: DEFI
Filing Date: 2025-03-27
Form Type: 424B3
Source: 0001999371-25-003249
Chunk: 110

Company: Tidal Commodities Trust I
Filing Date: 2025-03-27
Form: 424B3
Chunk 110
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AML) 
 regulations.                                                                                                                   |

| ● | The exchange cooperates with inquiries and investigations of regulators and the administrator upon request and has to execute 
 data sharing agreements with the CME.                                                                                         |

Should the average daily contribution of a constituent exchange
fall below 3%, then the continued inclusion of the venue as a constituent exchange is assessed.

Qualifying transactions from the constituent exchanges that
take place during the one-hour calculation window are added to a list, with the trade price and size for each transaction recorded.
The one-hour calculation is partitioned into twelve intervals of five minutes each, and for each partition, the volume-weighted
median trade price is calculated from the trade prices and sizes of relevant transactions. (A volume-weighted median differs from
a standard median in that a weighting factor, in this case trade size, is factored into the calculation.) The BRR is the equally-weighted
average of the volume-weighted medians of all twelve partitions.

Impact of Position Limits, Accountability Levels, and Price Fluctuation Limits.

Position limits, accountability levels,
and dynamic price fluctuation limits may potentially cause a tracking error between the price of the Shares and the Benchmark.
This may in turn prevent you from being able to effectively use the Fund as a way to hedge against bitcoin related losses or as
a way to indirectly invest in bitcoin.

The Fund does not intend to limit the size
of the offering and will attempt to expose substantially all of its proceeds to bitcoin and Bitcoin Futures Contracts and cash
and cash equivalents. If the Fund encounters position limits, accountability levels, or price fluctuation limits for Bitcoin Futures
Contracts, it could force the Fund to limit the number of Creation Baskets that it sells.

Price Volatility

Despite dynamic price limits, the price
volatility of bitcoin and Bitcoin Futures Contracts generally has been historically greater than that for traditional securities
such as stocks and bonds. Price volatility often is greater day to day as opposed to intra-day. Economic factors that may cause
volatility in bitcoin include but are not limited to cost of electricity, regulation, market disruptions, cyber-attacks, political
events and existing and future technological developments. There are also various other factors now known and unknown, any and
all of which can have an impact on the supply, demand, and price fluctuations in the bitcoin markets. See “Risks Related
to Bitcoin and the Bitcoin Network.” Because the Fund invests in bitcoin and Bitcoin Futures Contracts, the assets of the
Fund, and therefore the price of the