Company: DEFI
Filing Date: 2025-03-27
Form Type: 424B3
Source: 0001999371-25-003249
Chunk: 152

Company: Tidal Commodities Trust I
Filing Date: 2025-03-27
Form: 424B3
Chunk 152
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 used by the Fund to cover expenses related to creations and redemptions. Expenses paid by Sponsor are
not subject to any caps or limits.

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Form of Shares

Registered Form

Shares are issued in registered form in
accordance with the Trust Agreement. Global Fund Services has been appointed registrar and transfer agent for the purpose of transferring
Shares in certificated form. Global Fund Services keeps a record of all Shareholders and holders of the Shares in certificated
form in the registry (“Register”). The Sponsor recognizes transfers of Shares in certificated form only if done in
accordance with the Trust Agreement. The beneficial interests in such Shares are held in book-entry form through purchasers and/or
account holders in DTC.

Book Entry

Individual certificates are not issued for
the Shares. Instead, Shares are represented by one or more global certificates, which are deposited by the Sub-Administrator with
DTC and registered in the name of Cede & Co., as nominee for DTC. The global certificates evidence all of the Shares outstanding
at any time. Shareholders are limited to (1) purchasers in DTC such as banks, brokers, dealers and trust companies, (2) those who
maintain, either directly or indirectly, a custodial relationship with a DTC purchaser, and (3) those who hold interests in the
Shares through DTC purchasers or Indirect purchasers, in each case who satisfy the requirements for transfers of Shares. DTC purchasers
acting on behalf of investors holding Shares through such purchasers’ accounts in DTC will follow the delivery practice applicable
to securities eligible for DTC’s Same Day Funds Settlement System. Shares are credited to DTC purchasers’ securities
accounts following confirmation of receipt of payment.

DTC

DTC is a limited purpose trust company organized
under the laws of the State of New York and is a member of the Federal Reserve System, a “clearing corporation” within
the meaning of the New York Uniform Commercial Code and a “clearing agency” registered pursuant to the provisions of
Section 17A of the Exchange Act. DTC holds securities for DTC purchasers and facilitates the clearance and settlement of transactions
between DTC purchasers through electronic book-entry changes in accounts of DTC purchasers.

Transfer of Shares

The Shares are only transferable through
the book-entry system of DTC. Shareholders who are not DTC purchasers may transfer their Shares through DTC by instructing the
DTC purchaser holding