Company: DEFI
Filing Date: 2025-02-21
Form Type: POS AM
Source: 0001839882-25-010345
Chunk: 219

Company: Tidal Commodities Trust I
Filing Date: 2025-02-21
Form: POS AM
Chunk 219
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)(3).

Units of beneficial interest issued (from inception until December 31,
2024): 7,200,000

Aggregate gross sale price for units issued: $146,304,000

Pool NAV as of December 31, 2024: $147,851,592

NAV per Share as of December 31, 2024: $20.32

Worst monthly percentage drawdown*: -5.34% / October 2024

Worst peak to valley drawdown: -7.50% / June 2024 – October 2024

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS

| Rates of Return*      |       |    |
| Month                 |  2024 |    |
| January               |     – |    |
| February              |     – |    |
| March                 |     – |    |
| April                 |     – |    |
| May                   |  0.26 | %+ |
| June                  |  4.87 | %  |
| July                  | (2.80 | )% |
| August                | (0.08 | )% |
| September             |  0.55 | %  |
| October               | (5.34 | )% |
| November              |  6.62 | %  |
| December              | (1.93 | )% |
| Annual Rate of Return |  1.62 | %  |

For the partial month beginning May 28, 2024

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Cambria Chesapeake Pure Trend ETF (TICKER: MFUT)

The Cambria Chesapeake Pure Trend ETF commenced trading and investment
operations on May 29, 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): 1,350,000

Aggregate gross sale price for units issued: $244,028,115

Pool NAV as of December 31, 2024: $22,392,633