Company: DEFI
Filing Date: 2025-03-25
Form Type: POS AM
Source: 0001999371-25-003118
Chunk: 155

Company: Tidal Commodities Trust I
Filing Date: 2025-03-25
Form: POS AM
Chunk 155
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TC and registered in the name of Cede & Co., as nominee for DTC. The global certificates evidence all of the Shares outstanding
at any time. Shareholders are limited to (1) purchasers in DTC such as banks, brokers, dealers and trust companies, (2) those who
maintain, either directly or indirectly, a custodial relationship with a DTC purchaser, and (3) those who hold interests in the
Shares through DTC purchasers or Indirect purchasers, in each case who satisfy the requirements for transfers of Shares. DTC purchasers
acting on behalf of investors holding Shares through such purchasers’ accounts in DTC will follow the delivery practice applicable
to securities eligible for DTC’s Same Day Funds Settlement System. Shares are credited to DTC purchasers’ securities
accounts following confirmation of receipt of payment.

DTC

DTC is a limited purpose trust company organized
under the laws of the State of New York and is a member of the Federal Reserve System, a “clearing corporation” within
the meaning of the New York Uniform Commercial Code and a “clearing agency” registered pursuant to the provisions of
Section 17A of the Exchange Act. DTC holds securities for DTC purchasers and facilitates the clearance and settlement of transactions
between DTC purchasers through electronic book-entry changes in accounts of DTC purchasers.

Transfer of Shares

The Shares are only transferable through
the book-entry system of DTC. Shareholders who are not DTC purchasers may transfer their Shares through DTC by instructing the
DTC purchaser holding their Shares (or by instructing the Indirect purchaser or other entity through which their Shares are held)
to transfer the Shares. Transfers are made in accordance with standard securities industry practice.

Transfers of interests in Shares with DTC
are made in accordance with the usual rules and operating procedures of DTC and the nature of the transfer. DTC has established
procedures to facilitate transfers among the Purchasers and/or account holders of DTC. Because DTC can only act on behalf of DTC
Purchasers, who in turn act on behalf of Indirect Purchasers, the ability of a person or entity having an interest in a global
certificate to pledge such interest to persons or entities that do not participate in DTC, or otherwise take actions in respect
of such interest, may be affected by the lack of a certificate or other definitive document representing such interest.

DTC has advised us that it will take any
action permitted to be taken