Company: DEFI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001999371-25-017892
Chunk: 20

Company: Tidal Commodities Trust I
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 20
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modity Trust (the “Predecessor Trust”) sponsored by
Teucrium Trading, LLC (“Prior Sponsor”). The Merger closed on January 3, 2024. In connection with the Merger, the Predecessor
Fund shareholders received one Share for each share of the Predecessor Fund they owned prior to the Merger.

The sponsor of the
Trust is Tidal Investments LLC, a Delaware limited liability company (the “Sponsor”). The principal office of the Sponsor
is Milwaukee, Wisconsin and the Trust is located at 234 West Florida Street, Suite 203, Milwaukee, Wisconsin 53204. The Sponsor
is registered as a commodity pool operator (“CPO”) with the Commodity Futures Trading Commission (“CFTC”)
and is a member of the National Futures Association (“NFA”). The Fund intends to be treated as a partnership for U.S.
federal income tax purposes. The Sponsor has sponsored the Trust since 2023. Sponsoring the Fund will be the Sponsor’s first
experience in operating an exchange traded product that invests in crypto-currency futures or directly in bitcoin. The Sponsor’s
responsibilities are discussed below in the section entitled “The Sponsor’s Operations.”

While investors will purchase and sell
Shares through their broker-dealer, the Fund continuously offers creation baskets consisting of 10,000 Shares (“Creation
Baskets”) at their net asset value (“NAV”) to certain financial institutions that have entered into an agreement
with the Sponsor (“Authorized Purchasers”).

F-21 

Merger with Hashdex Bitcoin Futures ETF

On January 3, 2024, the Trust completed
the Merger and acquisition of the Predecessor Fund, a series of the Predecessor Trust, into the Fund, a series of the Trust. The
Merger was effected pursuant to an Agreement and Plan of Partnership Merger and Liquidation dated as of October 30, 2023 (the “Plan
of Merger”) between the Predecessor Trust, on behalf of its Predecessor Fund series, and the Trust, on behalf of its Fund
series.

Pursuant to the Plan of Merger, each Predecessor
Fund shareholder received one share of the Fund for every one share of the Predecessor Fund held immediately before the commencement
of trading on the NYSE Arca on the Closing Date based on the net asset value per share of the Predecessor Fund being equal to the
net asset value per share of the