Company: DEFI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001999371-25-006264
Chunk: 14

Company: Tidal Commodities Trust I
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 14
---
 with
total expenses gross of expenses waived by the Sponsor and with total expenses net of expenses waived by the Sponsor, as appropriate.

    F-18 

HASHDEX BITCOIN ETF(FORMERLY HASHDEX BITCOIN FUTURES ETF)

FINANCIAL
HIGHLIGHTS

    Three Months Ended  March 31, 2025  
    Three Months Ended  March 31, 2024* 

    Per Share Operation Performance 

    Net asset value at beginning of period 
    $106.00  
    $50.74 

    Income (loss) from investment operations: 

    Investment income 
     0.00  
     0.62 

    Net realized and unrealized gain (loss) on investments and cryptocurrency futures contracts 
     (12.23) 
     29.91 

    Total expenses 
     (0.15) 
     (0.20)

    Net increase (decrease) in net asset value 
     (12.38) 
     30.33 

    Net asset value at end of period 
    $93.62  
    $81.07 

    Total Return 
     -11.68% 
     59.78%

    Ratios to Average Net Assets (Annualized) 

    Total expenses 
     0.56% 
     1.30%

    Total expenses, net 
     0.56% 
     1.30%

    Net investment income (loss) 
     -0.55% 
     2.67%

*Reflects the operations
of the Hashdex Bitcoin Futures ETF, which was a series of Teucrium Commodity Trust until January 3, 2024. Please see Note 5 for more
information.

Note
5 – Merger with Hashdex Bitcoin Futures ETF

As
reported by the Tidal Commodities Trust I on a Form 8-K filed with the Securities and Exchange Commission on January 3, 2024 (File
No. 001-41900), the Fund completed the successful acquisition by merger (the “Merger”) of the Hashdex Bitcoin Futures
ETF, a series of the Teucrium Commodity Trust (the “Acquired Fund”).

Under
the terms of the Merger, each shareholder of the Acquired Fund received one share of the Fund for every one share of the Acquired