Company: DEFI
Filing Date: 2025-03-25
Form Type: POS AM
Source: 0001999371-25-003118
Chunk: 162

Company: Tidal Commodities Trust I
Filing Date: 2025-03-25
Form: POS AM
Chunk 162
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     -$1,668.23 |
| Fut           
 Feb 24        | $28,445.00 |             138 | -4.90%      |     -$1,393.81 |
| Fut           
 Mar 24        | $28,650.00 |             173 | -3.70%      |     -$1,060.05 |
| Fut           
 Jun 24        | $29,205.00 |             264 | -1.50%      |       -$438.08 |
| Fut           
 Sep 24        | $29,755.00 |             355 | -0.30%      |        -$89.27 |
| Fut           
 Dec 24        | $30,305.00 |             446 | 0.50%       |        $151.53 |
| Fut           
 Mar 25        | $30,860.00 |             537 | 1.10%       |        $339.46 |
|               |            |                 | FBSP:       |      27,626.82 |
|               |            |                 | NQBTCS      |      27,619.94 |
|               |            |                 | Divergence  
 (%)         |          0.02% |

The valuation policies of the Fund address potential for a blockchain for a crypto asset to diverge into different paths and airdrops. In the event of a fork in the Bitcoin Network, for example, the Fund will adhere to the decision made by the CME regarding which of the resulting networks will be considered as bitcoin. In other words, the network considered as bitcoin by the Fund will align with the one recognized in the context of CME Bitcoin Futures. In the occurrence of a fork, airdrop or similar event, the Sponsor will cause the Fund to irrevocably abandon the Incidental Rights and any IR Virtual Currency associated with such event and the only crypto asset to be held by the Fund will be bitcoin.

The Sponsor may determine that the FBSP calculation should not be used to value the Fund in exceptional circumstances when: (1) Bitcoin Futures Contracts settlement prices are not readily available; or (2) when a settlement price is not available for the first and second-to-expire Bitcoin Futures Contracts for the day; or (3) settlement price data is not published for at least three Bitcoin Future Contracts expirations.

The Sponsor does not anticipate that the need to rely on an alternative pricing source for bitcoin to be