Company: DEFI
Filing Date: 2025-03-27
Form Type: 424B3
Source: 0001999371-25-003249
Chunk: 216

Company: Tidal Commodities Trust I
Filing Date: 2025-03-27
Form: 424B3
Chunk 216
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| September             |  0.55 | %  |
| October               | (5.34 | )% |
| November              |  6.62 | %  |
| December              | (1.93 | )% |
| Annual Rate of Return |  1.62 | %  |

For the partial month beginning May 28, 2024

<div align='center'>129</div>

Cambria Chesapeake Pure Trend ETF (TICKER: MFUT)

The Cambria Chesapeake Pure Trend ETF commenced trading and investment
operations on May 29, 2024. The Fund is listed on NYSE Arca and is neither: (i) a privately offered pool pursuant to Section 4(a)(2) of
the 1933 Act; (ii) a multi-advisor pool as defined in CFTC Regulation 4.10(d)(2); or (iii) a principal-protected pool as defined in CFTC
Regulation 4.10(d)(3).

Units of beneficial interest issued (from inception until December 31,
2024): 1,350,000

Aggregate gross sale price for units issued: $244,028,115

Pool NAV as of December 31, 2024: $22,392,633

NAV per Share as of December 31, 2024: $16.59

Worst monthly percentage drawdown*: -8.84% / October 2024

Worst peak to valley drawdown**: -17.10% / May 2024 – October 2024

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS

| Month                 |   2024 |     |
| January               |      – |     |
| February              |      – |     |
| March                 |      – |     |
| April                 |      – |     |
| May                   |  (0.35 | )%+ |
| June                  |  (3.46 | )%  |
| July                  |  (3.33 | )%  |
| August                |  (4.22 | )%  |
| September             |   2.05 | %   |
| October               |  (8.84 | )%  |
| November              |   2.01 | %   |
| December              |  (1.56 | )%  |
| Annual Rate of Return | (16.