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

Company: Tidal Commodities Trust I
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 25
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5  
    Quarter
Ended
March 31, 2024  
    Year
Ended
December 31, 2024 

    Total Net Assets 
    $13,106,337  
    $11,349,834  
    $14,839,385 

    Shares Outstanding 
     140,000  
     140,000  
     140,000 

    Net Asset Value per share 
    $93.62  
    $81.07  
    $106.00 

    Closing Price 
    $93.32  
    $81.50  
    $106.21 

Total
net assets for the Fund increased year over year by 15.48%, driven by a combination of an increase in shares outstanding of 79,996
shares or 160% and an increase in the NAV per share of $12.55 or 15.48%. The change in total net assets year over year was generally
due to the Bitcoin price appreciation from $69,487.25 per Bitcoin as of March 29, 2024, to $82,520.96 per Bitcoin as of March
31, 2025, representing an approximate 18.76% increase during the period March 29, 2024 to March 31, 2025.

For
the three months ended March 31, 2025, compared to the three months ended March 31, 2024

    Quarter Ended  
    Quarter Ended 

    March 31, 2025  
    March 31, 2024 

    Average daily total net assets 
    $14,840,649  
    $18,133,799 

    Net realized and unrealized gain (loss) on futures contracts and investments 
    $(1,712,846) 
    $7,557,659 

    Interest income earned on cash equivalents 
    $183  
    $178,749 

    Annualized interest yield based on average daily total net assets 
     0.01% 
     3.96%

    Net Income (Loss) 
    $(1,733,048) 
    $7,937,269 

    Weighted average share outstanding 
     140,000  
     286,374 

    Management Fees 
    $20,385  
    $42,381 

    Total gross