Company: DEFI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001999371-25-011381
Chunk: 11

Company: Tidal Commodities Trust I
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 11
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 is subject to margin calls.
Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the
futures and options positions held in an account would, in the case of some accounts, be aggregated and margin requirements would
be assessed on a portfolio basis, measuring the total risk of the combined positions.

Expenses

Expenses
are recorded using the accrual method of accounting.

Net
Income (Loss) per Share

Net
income (loss) per share is the difference between the NAV per unit at the beginning of each period and at the end of each period.
The weighted average number of units outstanding was computed for purposes of disclosing net income (loss) 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