Company: DEFI
Filing Date: 2025-11-04
Form Type: POS AM
Source: 0001999371-25-016766
Chunk: 56

Company: Tidal Commodities Trust I
Filing Date: 2025-11-04
Form: POS AM
Chunk 56
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 could have a negative impact on the performance of the Shares or result in loss of the Fund’s assets. Also, the Fund may not be able to find a party willing to serve as the custodian of the Fund’s assets or as the Fund’s agent on the same terms as the agreement with the Bitcoin Custodian or at all. To the extent that the Fund is not able to find a suitable party willing to serve as the custodian or agent, the Fund may be required to terminate the Fund and liquidate the Fund’s bitcoin assets. If the Fund is unable to find a replacement agent, its operations could be adversely affected. 45 The Sponsor may not be able to find a party willing to serve as the custodian of the Fund’s bitcoin under the same terms as the current Bitcoin Custody Agreement or at all. To the extent that the Sponsor is not able to find a suitable party willing to serve as the custodian, the Sponsor may be required to terminate the Fund and liquidate the Fund’s assets. In addition, to the extent that the Sponsor finds a suitable party but must enter into a modified Bitcoin Custody Agreement that is less favorable for the Sponsor or the Fund, the value of the Shares could be adversely affected. Part of the Fund’s assets are held in cash with the Cash Custodian and other financial institutions, if applicable. The insolvency of the Cash Custodian and any financial institution in which the Fund holds cash could result in a substantial loss of the Fund’s cash. Similarly, if an Authorized Purchaser suffers insolvency, business failure or interruption, default, failure to perform, security breach or if an Authorized Purchaser chooses not to participate in the creation and redemption process of the Fund, and the Fund is unable to engage replacement Authorized Purchasers on commercially acceptable terms or at all, then the creation and redemption process of the Fund, the arbitrage mechanism used to keep the Shares in line with the NAV and the Fund’s operations generally could be negatively affected. Buying or selling bitcoin. The Fund may transact with bitcoin exchanges and over-the-counter bitcoin market makers. The Fund will take on credit risk every time it purchases or sells bitcoin, and its contractual rights with respect to such transactions may be limited. It is possible that, through computer or human error, or through theft or criminal action, the Fund’s bitcoins or cash could be transferred in incorrect amounts or to unauthorized third parties. To the extent that the Fund is unable to seek a corrective transaction with such third party or is incapable of identifying the third party which has