Company: DEFI
Filing Date: 2025-02-21
Form Type: POS AM
Source: 0001839882-25-010345
Chunk: 220

Company: Tidal Commodities Trust I
Filing Date: 2025-02-21
Form: POS AM
Chunk 220
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NAV per Share as of December 31, 2024: $16.59

Worst monthly percentage drawdown*: -8.84% / October 2024

Worst peak to valley drawdown**: -17.10% / May 2024 – October 2024

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS

| Month                 |   2024 |     |
| January               |      – |     |
| February              |      – |     |
| March                 |      – |     |
| April                 |      – |     |
| May                   |  (0.35 | )%+ |
| June                  |  (3.46 | )%  |
| July                  |  (3.33 | )%  |
| August                |  (4.22 | )%  |
| September             |   2.05 | %   |
| October               |  (8.84 | )%  |
| November              |   2.01 | %   |
| December              |  (1.56 | )%  |
| Annual Rate of Return | (16.79 | )%  |

For the partial month beginning May 29, 2024

<div align='center'>130</div>

Return Stacked(R) Bonds & Futures Yield ETF (TICKER: RSBY)

The Return Stacked(R) Bonds & Futures Yield ETF commenced trading and
investment operations on August 20, 2024. The Fund is listed on NYSE Arca and is neither: (i) a privately offered pool pursuant to Section
4(a)(2) of the 1933 Act; (ii) a multi-advisor pool as defined in CFTC Regulation 4.10(d)(2); or (iii) a principal-protected pool as defined
in CFTC Regulation 4.10(d)(3).

Units of beneficial interest issued (from inception until December 31,
2024): 6,050,000

Aggregate gross sale price for units issued: $108,900,000

Pool NAV as of December 31, 2024: $108,025,558

NAV per Share as of December 31, 2024: $18.00

Worst monthly percentage drawdown*: -6.77% / October 2024

Worst peak to valley drawdown**: -8.20% / August 202