Company: DEFI
Filing Date: 2025-03-25
Form Type: POS AM
Source: 0001999371-25-003118
Chunk: 154

Company: Tidal Commodities Trust I
Filing Date: 2025-03-25
Form: POS AM
Chunk 154
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 bitcoin, including any bitcoin transaction fees for on-chain
transfers of bitcoin. 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, Custodian, 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 and allocated by the Sponsor using a pro rata methodology that allocates certain
Trust expenses to the Fund and each other series of the Trust in existence at the occurrence of any such expense according to the
relative net asset values of the Fund and each other series of the Trust. 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. Authorized Purchasers pay a $300
fee per order to create Creation Baskets, and a $300 fee per order for Redemption Baskets, which is paid to the Cash Custodian.
This $300 fee may not be used by the Fund to cover expenses related to creations and redemptions. Expenses paid by Sponsor are
not subject to any caps or limits.

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Form of Shares

Registered Form

Shares are issued in registered form in
accordance with the Trust Agreement. Global Fund Services has been appointed registrar and transfer agent for the purpose of transferring
Shares in certificated form. Global Fund Services keeps a record of all Shareholders and holders of the Shares in certificated
form in the registry (“Register”). The Sponsor recognizes transfers of Shares in certificated form only if done in
accordance with the Trust Agreement. The beneficial interests in such Shares are held in book-entry form through purchasers and/or
account holders in DTC.

Book Entry

Individual certificates are not issued for
the Shares. Instead, Shares are represented by one or more global certificates, which are deposited by the Sub-Administrator with
D