Company: DEFI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001999371-25-006264
Chunk: 19

Company: Tidal Commodities Trust I
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 19
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 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 

Recent
Developments

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 Fund determined immediately prior to the Merger
closing. The share price used for the delivery of shares of the Predecessor Fund was the net asset value per share of the Predecessor
Fund determined after the close of business of NYSE Arca on January 2, 2024. Consequently, the Merger resulted in a one-for-one
exchange of shares between the Predecessor Fund and the Fund. Further, the Fund acquired in the Merger all the assets of the Predecessor
Fund and assumed all the liabilities of the Predecessor Fund. Effective the Merger closing, the Plan of Merger caused all of the
Predecessor Fund’s shares to be cancelled and the Predecessor Fund to be liquidated.

The
Merger did not materially modify the rights of Predecessor Fund shareholders with respect to their investment. The Fund has the
same investment objective, investment strategies and investment restrictions, and substantially identical investment risks, as
those had by the Predecessor Fund. Following the Merger, the Fund is now sponsored by the