Company: DEFI
Filing Date: 2025-03-27
Form Type: 424B3
Source: 0001999371-25-003249
Chunk: 138

Company: Tidal Commodities Trust I
Filing Date: 2025-03-27
Form: 424B3
Chunk 138
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 the Cash Custodian’s insolvency, the Fund’s assets
held under custody might be subject to legal and financial complexities, which would subject the Fund to the following risks:

| ● | Access to Assets: In the case of the Cash Custodian’s insolvency, there may be delays or difficulties in accessing the     
 Fund’s assets held by the Cash Custodian. This situation could impact the Fund’s ability to meet its financial obligations 
 or to execute its investment strategies promptly.                                                                          |

| ● | Asset Recovery and Transfer: The process of recovering and transferring assets to a new custodian in the event of insolvency            
 may prove time-consuming and complex. This process might involve legal proceedings and negotiations, potentially leading to a prolonged 
 period during which the assets are not actively managed or are inaccessible.                                                            |

| ● | Financial Losses: Ther Fund may incur financial losses if the assets held by the Cash Custodian are entangled in insolvency      
 proceedings. The Fund might not recover the full value of its assets, particularly if any part of the assets becomes part of the 
 Cash Custodian’s bankruptcy estate.                                                                                              |

| ● | Operational Disruptions: Transitioning to a new custodian may cause operational disruptions. This includes administrative burdens, 
 potential errors during the transfer of records and assets, and the need to establish new operational protocols.                   |

In addition to the foregoing risks, the
Fund would be subject to additional risks if the Custody Agreement is terminated, which include:

| ● | Cost Implications: Terminating the agreement and engaging a new custodian might incur additional costs, including early termination 
 fees, transfer fees, and higher fees charged by a new custodian.                                                                    |

| ● | Continuity of Service: There is a risk of service interruptions during the transition period, which might affect the Fund’s 
 ability to execute transactions and manage its assets effectively.                                                          |

Sub-Administration Agreement. The
Fund Sub-Administrator is U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services (Global Fund Services).
In the Fund Administration Servicing Agreement with the Trust and the Sponsor, Global Fund Services has been appointed to provide
a range of administrative services to the Trust. These services encompass general fund management, financial reporting, tax reporting,
and optional additional tax services, as detailed in the Agreement.

The agreement specifies an initial term
of three years, with automatic renewal for successive one-year periods unless a party provides 90 days’ prior written notice
indicating non-renew