Company: DEFI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001999371-25-017892
Chunk: 14

Company: Tidal Commodities Trust I
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 14
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01. The Marketing Agent is a broker-dealer registered with the SEC and a member of FINRA.

Support Agent

The Administrator also assists the Fund and the Sponsor
with certain functions and duties relating to administration and marketing, which include the following: marketing and sales strategy
and marketing related services.

Digital Asset Adviser

Hashdex Asset Management
Ltd. (“Hashdex” or the “Digital Asset Adviser”) is a Cayman Islands investment manager (and an exempt reporting
advisor under SEC rules) that specializes in, among other things, the management, research, investment analysis and other investment
support services of funds and ETFs with investment strategies involving bitcoin and other crypto assets. As Digital Asset Adviser,
Hashdex is responsible for providing the Sponsor and the Administrator with research and analysis regarding bitcoin and bitcoin
markets for use in the operation and marketing of the Fund. Hashdex has no role in maintaining, calculating or publishing the Benchmark.
Hashdex also has no responsibility for the investment or management of the Fund’s portfolio or for the overall performance
or operation of the Fund.

Note 3 – Transactions with Affiliates

The Trust has no directors, officers or employees and is managed
by the Sponsor. The Administrator is a wholly-owned subsidiary of the Sponsor.

Note 4 – Financial Highlights

The following tables present per unit performance
data and other supplemental financial data for the three and nine months ended September 30, 2025 and 2024. This information has
been derived from information presented in the financial statements and is presented 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  September 30,2025  
    Three
Months  Ended  September 30,2024  
    Nine
Months 
Ended  September 30, 2025  
    Nine Months 
Ended 
    September 30, 2024* 

    Per Share Operation Performance 

    Net asset value at beginning of period 
    $121.88  
    $68.43  
    $106.00  
    $50.74 

    Income (loss) from investment operations: 

    Investment income 
     0.01  
     0.01