Company: DEFI
Filing Date: 2025-03-17
Form Type: S-1/A
Source: 0001387131-25-000058
Chunk: 105

Company: Tidal Commodities Trust I
Filing Date: 2025-03-17
Form: S-1/A
Chunk 105
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 of interest;                                                                              |

| ● | The                                                                                          
 Fund has agreed to indemnify the Sponsor and its affiliates pursuant to the Trust Agreement; |

| ● | The                                                                                     
 Sponsor is responsible for allocating its own limited resources among different clients 
 and potential future business ventures, to each of which it owes fiduciary duties;      |

| ● | The                                                                                    
 Sponsor’s staff also services affiliates of the Sponsor and their respective clients   
 and cannot devote all of its, or their, respective time or resources to the management 
 of the business and affairs of the Fund;                                               |

| ● | The                                                                                       
 Sponsor, its affiliates and their officers and employees are not prohibited from engaging 
 in other businesses or activities, including those that might be in direct competition    
 with the Fund;                                                                            |

| ● | There                                                                                   
 is an absence of arm’s-length negotiation with respect to certain terms of the          
 Fund, and, where applicable, there has been no independent due diligence conducted with 
 respect to this offering;                                                               |

| ● | The                                                                                  
 Sponsor decides whether to retain separate counsel, accountants or others to perform 
 services for the Fund; and                                                           |

| ● | The                                                                                         
 Sponsor may appoint an agent to act on behalf of the Shareholders, which may be the Sponsor 
 or an affiliate of the Sponsor.                                                             |

By investing in the Shares, investors agree and consent to the provisions set forth in the Trust Agreement. That notwithstanding, the Sponsor is a registered investment adviser under the Advisers Act and is subject to fiduciary duties in connection therewith. For a further discussion of the conflicts of interest among the Sponsor, Authorized Purchasers, Kaiko, Solactive, Bitcoin Custodian and/or Non-Digital Custodian, Fund and others, see “Conflicts of Interest.”

Affiliates of the Sponsor may invest in or trade bitcoin and/or carbon credit futures without regard to the interests of the Fund or its Shareholders.

Affiliates of the Sponsor may have direct investments in bitcoins and/or invest in carbon credit futures contracts. Such affiliates of the Sponsor are permitted to manage such investments, taking into account their own interests, without regard to the interests of the Fund or its Shareholders. Affiliates of the Sponsor may obtain exposure to bitcoins and carbon credit futures through investment in the Shares.

To the extent that any substantial investment in bitcoins and/or carbon credit futures contracts is initiated, materially increased or materially reduced, such investment can affect the Bitcoin Price and/or value of the Carbon Credit Futures. The initiation of, or material increases