Company: DEFI
Filing Date: 2025-03-25
Form Type: POS AM
Source: 0001999371-25-003118
Chunk: 146

Company: Tidal Commodities Trust I
Filing Date: 2025-03-25
Form: POS AM
Chunk 146
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 Declaration of Trust permitted the Prior Sponsor, without a shareholder vote, to transfer the assets of the Predecessor
Fund to the Fund.

The Prior Sponsor and Sponsor entered into
an agreement and plan of partnership merger and liquidation (the “Plan of Reorganization”) dated October 30, 2023.
Pursuant to the Plan of Reorganization, the Fund delivered its Shares to the Predecessor Fund and assumed the liabilities of the
Predecessor Fund on January 3, 2024 (the “Closing Date”). On the Closing Date, the Predecessor Fund delivered its assets
to the Custodian and the Fund’s FCMs, in exchange for the Shares. The Fund distributed to the Predecessor Fund’s record
holders, determined as of the Closing Date, it’s Shares in an amount equal to one for one exchange of the Predecessor Fund’s
shares. Pursuant to the terms of the Plan of Reorganization, the Predecessor Fund liquidated in accordance with the laws of Delaware
and applicable federal securities laws and regulations. The Predecessor Fund and the Fund were required to make representations
and warranties that are customary in matters such as the Plan of Reorganization.

The Merger did not materially modify the
rights of Fund shareholders. Prior to the Merger, the Fund had no operations, received $100 in cash from the Sponsor for four Shares
to complete the pre-operational formation of the Fund and had no liabilities. By being the surviving entity from the Merger, the
Fund acquired all assets and assumed all the liabilities of the Predecessor Fund and succeeded to the Predecessor Fund’s
performance history. Unless otherwise indicated, information concerning the Fund for periods before January 3, 2024 is information
of the Predecessor Fund.

The Merger constituted a “reorganization”
within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended (the “Code”). The Sponsor, as
a condition to the closing of the Merger, received an opinion to such effect from tax counsel to the Trust. The Predecessor Fund
and the shareholders generally did not recognize any gain or loss for federal income tax purposes on the transfer of assets, the
assumption of liabilities, and the receipt of Fund shares in the Merger.

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The Predecessor Fund did not pay for the
costs of the Merger. The Sponsor paid the costs associated with