Company: DEFI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001999371-25-011381
Chunk: 14

Company: Tidal Commodities Trust I
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 14
---
 and marketing of the Fund. Hashdex has no role in maintaining,
calculating or publishing the Benchmark. Hashdex also has no responsibility for the investment or management of the Fund’s
portfolio or for the overall performance or operation of the Fund.

Note
3 – Transactions with Affiliates

The
Trust has no directors, officers or employees and is managed by the Sponsor. The Administrator is a wholly-owned subsidiary of
the Sponsor.

Note
4 – Financial Highlights

The
following tables present per unit performance data and other supplemental financial data for the three and six months ended June
30, 2025 and 2024. This information has been derived from information presented in the financial statements and is presented with
total expenses gross of expenses waived by the Sponsor and with total expenses net of expenses waived by the Sponsor, as appropriate.

    F-18 

HASHDEX
BITCOIN ETF

(FORMERLY
HASHDEX BITCOIN FUTURES ETF)

FINANCIAL
HIGHLIGHTS

    Three
                                         Months
                                                                  Ended  
    Three
                                         Months
                                                                  Ended  
    Six
    Months Ended  
    Six
    Months Ended 

    June
    30, 2025  
    June
30, 2024  
    June
    30, 2025  
    June
    30, 2024* 

    Per
    Share Operation Performance 

    Net
    asset value at beginning of period 
    $93.62  
    $81.07  
    $106.00  
    $50.74 

    Income
    (loss) from investment operations: 

    Investment
    income (loss) 
     0.00  
     (0.14) 
     0.00  
     0.44 

    Net
    realized and unrealized gain (loss) on investments and cryptocurrency futures contracts 
     28.33  
     (12.50) 
     16.09  
     17.25 

    Total
    expenses 
     (0.07) 
     —  
     (0.21) 
     — 

    Net
    increase (decrease) in net asset value 
     28.26  
     (12.64) 
     15.88  
     17.69