Company: DEFI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001999371-25-017892
Chunk: 27

Company: Tidal Commodities Trust I
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 27
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    September 30, 2024 

    Average daily total net assets 
    $15,516,535  
    $9,912,432 

    Net realized and unrealized gain (loss) on futures contracts and investments 
    $916,923  
    $335,424 

    Interest income earned on cash equivalents 
    $806  
    $1,524 

    Annualized interest yield based on average daily total net assets 
     0.02% 
     0.06%

    Net Income (Loss) 
    $907,867  
    $314,110 

    Weighted average shares outstanding 
     120,000  
     142,717 

    Management fees 
    $9,777  
    $22,425 

    Total gross fees and other expenses (excluding management fees) 
    $—  
    $413 

    Brokerage commissions 
    $—  
    $50 

    Total gross expense ratio 
     0.25% 
     0.92%

    Net investment gain (loss) 
     6.20% 
     5.58%

    Creation of Shares 
     —  
     — 

    Redemption of Shares 
     —  
     30,000 

Net Realized Gain or Loss on Futures Contracts

Realized gain or loss on trading of commodity
futures contracts is a function of: 1) the change in the price of the particular contracts sold as part of a “roll”
in contracts as the nearest to expire contracts are exchanged for the appropriate contract given the investment objective of the
fund, 2) the change in the price of particular contracts sold in relation to redemption of shares, 3) the gain or loss associated
with rebalancing trades which are made to ensure conformance to the benchmark, 4) the number of contracts held and then sold for
either circumstance aforementioned. The Fund recognizes the expense for brokerage commissions for futures contract trades on a
per trade basis. Unrealized gain or loss on trading of commodity futures contracts is a function of the change in the price of
contracts held on the final date of the period versus the purchase price for each contract and the number of contracts held in
each contract month. The Fund conducts creation and redemption transactions only for cash, and, with respect to creation transactions,
the cash is used to purchase Bitcoin Futures Contracts