Company: DEFI
Filing Date: 2025-03-17
Form Type: S-1/A
Source: 0001387131-25-000058
Chunk: 45

Company: Tidal Commodities Trust I
Filing Date: 2025-03-17
Form: S-1/A
Chunk 45
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 the price of bitcoin are expected to directly impact the value of Shares. The Fund’s NAV may be more volatile than an investment vehicle with a more broadly diversified portfolio and may experience significant fluctuations over either a short or long period of time.

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80% of the Fund’s investments are in bitcoin, and the value of Shares will be significantly impacted by the value of bitcoin. Bitcoin’s value may be highly volatile and subject to fluctuations due to a number of factors.

80% of the value of the Fund is invested in bitcoin, and the value of Shares will be significantly impacted by the value of bitcoin. Fluctuations in the value of bitcoin could adversely, and significantly, affect the value of Shares. The market price of bitcoin may be highly volatile, and subject to a number of factors, including:

| ● | an                                                                            
 increase in the global bitcoin supply or a decrease in global bitcoin demand; |

| ● | market                                                                                     
 conditions of, and overall sentiment towards, the digital assets and blockchain technology 
 industry;                                                                                  |

| ● | trading                                                                               
 activity on digital asset exchanges, which, in many cases, are largely unregulated or 
 may be subject to manipulation;                                                       |

| ● | the                                                                                     
 adoption of bitcoin as a medium of exchange, store-of-value or other consumptive asset  
 and the maintenance and development of the open-source software protocol of the Bitcoin 
 Network, and their ability to meet user demands;                                        |

| ● | forks                   
 in the Bitcoin Network; |

| ● | investors’                                                                             
 expectations with respect to interest rates, the rates of inflation of fiat currencies 
 or bitcoin, and digital asset exchange rates;                                          |

| ● | consumer                                                                          
 preferences and perceptions of bitcoin specifically and digital assets generally; |

| ● | negative                                                                                   
 events, publicity, and social media coverage relating to the digital assets and blockchain 
 technology industry;                                                                       |

| ● | fiat                                                                 
 currency withdrawal and deposit policies on digital asset exchanges; |

| ● | the                                                                                  
 liquidity of digital asset markets and any increase or decrease in trading volume or 
 market making on digital asset markets;                                              |

| ● | business                                                                                    
 failures, bankruptcies, hacking, fraud, crime, government investigations, or other negative 
 developments affecting digital asset businesses, including digital asset exchanges, or      
 banks or other financial institutions and service providers which provide services to       
 the digital assets industry;                                                                |

| ● | the                                                                                     
 use of leverage in digital asset markets, including the unwinding of positions, “