Company: DEFI
Filing Date: 2025-03-17
Form Type: S-1/A
Source: 0001387131-25-000058
Chunk: 80

Company: Tidal Commodities Trust I
Filing Date: 2025-03-17
Form: S-1/A
Chunk 80
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 Credit Futures that comprise the Index.

The Fund’s investments are expected to be in various countries or regions and, therefore the Fund may be susceptible to adverse market, political, regulatory, and geographic events affecting that country, countries or region. Such geographic focus also may subject the Fund to a higher degree of volatility than a more geographically diversified fund.

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| ● | California                                                                                  
 Risk. Because the Fund is exposed to carbon credits issued under the CCA cap-and-trade      
 program, the Fund’s performance also may be negatively impacted by factors affecting        
 California. For example, natural disasters may disrupt the local, state or regional economy 
 or certain sectors of the economy and may impact the prices of such carbon credit futures.  
 California’s budget and fiscal operations face certain structural impediments and           
 rely on revenue sources which have been historically sensitive to the economic environment. 
 California’s diverse economy is the largest in the United States and one of the             
 largest in the world with major components including high technology, trade, entertainment, 
 manufacturing, tourism, construction, agriculture and services. Any downturn in these       
 sectors or related industries may adversely affect the economy of the state and the prices  
 of such Carbon Credit Futures.                                                              |

| ● | Eastern                                                                                       
 U.S. Risk. Because the Fund is exposed to carbon credits issued under the RGGI cap-and-trade  
 program, the Fund’s performance also may be negatively impacted by factors affecting          
 the Eastern region of the United States. For example, flooding, warming temperatures,         
 and precipitation variability are growing challenges in the Eastern region of the United      
 States and may disrupt the local, state, or regional economies of the Eastern states          
 or certain sectors of those economies and may impact the prices of such carbon credit         
 futures. The economies of the Eastern region of the United States are comprised of components 
 including agriculture, tourism, professional services, and manufacturing. Any downturn        
 in these sectors or related industries may adversely affect the economy of the Eastern        
 region of the United States and the prices of such Carbon Credit Futures.                     |

The Fund may experience risks related to the energy, agriculture and metal sectors associated with its trading in carbon credit futures contracts.

The market values of the companies in the energy, agriculture and metal sectors and industries are highly dependent on supply and demand resources, economic conditions, and technological advances among other factors. As a result, these sectors and industries can be volatile segments of the market. Companies in these sectors are also frequently subject to substantial regulation and may be subject