Company: DEFI
Filing Date: 2025-03-25
Form Type: POS AM
Source: 0001999371-25-003118
Chunk: 127

Company: Tidal Commodities Trust I
Filing Date: 2025-03-25
Form: POS AM
Chunk 127
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 cash equivalents, specifically in demand deposits, in short-term Treasury Securities held by the FCM, or in money-market
funds. Such remaining assets may be used to meet future margin payments that the Fund is required to make on its BTC Contracts
and/or MBT Contracts.

The Fund earns interest and other income
from the cash equivalents that it purchases, and on the cash, it holds through the Cash Custodian or other financial institutions.
The earned interest and other income increase the Fund’s NAV. The Fund applies the earned interest and other income to the
acquisition of additional investments or uses it to pay its expenses. When the Fund reinvests the earned interest and other income,
it makes investments that are consistent with its investment objectives.

Any cash equivalent invested in by the Fund
will have a remaining maturity of less than 90 days at the time of investment or will be subject to a demand feature that enables
that Fund to sell the security within that time period at approximately the security’s face value (plus accrued interest).
Any cash equivalents invested in by the Fund will be or will be deemed by the Sponsor to be of investment grade credit quality.

Other Trading Policies of the Fund

Liquidity

The Fund invests only in Bitcoin Futures
Contracts that, in the opinion of the Sponsor, are traded in sufficient volume to permit the ready taking and liquidation of positions
in these financial interests or other bitcoin interests based on the spot price of bitcoin.

Borrowings

The Fund does not intend to nor foresee
the need to borrow money or establish credit lines. The Fund maintains cash and cash equivalents, either held by the Fund or posted
as margin or collateral, with a value that at all times approximates the aggregate market value of its obligations under Bitcoin
Futures Contracts. The Fund meets its liquidity needs in the normal course of business from the proceeds of the sale of its investments
or from the cash and cash equivalents that it intends to hold at all times.

The Benchmark

Benchmark Calculation

The Benchmark is governed by the CIOC, which
is responsible for implementation, administration, and oversight of the Benchmark, including its cessation. The CIOC shall approve
any material changes to the methodology and review the Benchmark methodology at least on an annual basis.

According to the Benchmark methodology,
any deviations from the Benchmark methodology are made in the sole judgment and discretion of Nasdaq so that the Benchmark continues
to achieve its objective. Nasdaq will provide transparency over the decisions affecting the compilation of the reference rate and
any related determination