Company: DEFI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001999371-25-006264
Chunk: 0

Company: Tidal Commodities Trust I
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 0
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March
31, 2025 (Unaudited)

Note
1 – Organization and Significant Accounting Policies

These
footnotes represent the footnotes to Hashdex Bitcoin ETF’s Statement of Assets and Liabilities and the Combined Financial
Statements of Tidal Commodities Trust I.

Hashdex
Bitcoin ETF (the “Fund”) is a series of Tidal Commodities Trust I (“Trust”), a Delaware statutory trust
organized on February 10, 2023. The Fund operates pursuant to the First Amended and Restated Declaration of Trust and Trust Agreement
(“Trust Agreement”), dated March 10, 2023. The Fund is currently the Trust’s only publicly offered series. However,
Tidal Investments LLC (f/k/a Toroso Investments, LLC, the “Sponsor”) has filed a registration statement for another
exchange traded fund, Nexo 7RCC Spot Bitcoin and Carbon Credit Futures ETF (“BTCK”), which is a series of the Trust.

The
Trust is registered with the U.S. Securities and Exchange Commission (“SEC”) under the Securities Act of 1933, as
amended (together with the rules and regulations adopted thereunder, as amended, the “1933 Act”), as an exchange-
traded fund. The Fund was formed and is managed and controlled by the Sponsor, a limited liability company formed in Delaware
on March 14, 2012. The Sponsor is registered as a commodity pool operator (“CPO”) with the Commodity Futures Trading
Commission (“CFTC”) and is a member of the National Futures Association (“NFA”).

The Fund intends to be
treated as a partnership for U.S. federal income tax purposes.

The
Trust and Fund qualify as an investment company solely for accounting purposes and not for any other purpose and follow the accounting
and reporting guidance under the Financial Accounting Stands Board Accounting Standards Codification Topic 946, Financial Services
- Investment Companies, but are not registered, and are not required to be registered, as an investment company under the Investment
Company Act of 1940, as amended.

On
January 2, 2024, the initial Form S-1 for DEFI was declared effective by the U.S. Securities and Exchange Commission (“SEC”).
The Fund is the successor and surviving entity from the merger (the “Merger”) of the Hashdex Bitcoin Futures ETF (the
“Predecessor Fund”) into the Fund. The Predecessor Fund was a series of the Teucri