Company: DEFI
Filing Date: 2025-11-04
Form Type: POS AM
Source: 0001999371-25-016766
Chunk: 77

Company: Tidal Commodities Trust I
Filing Date: 2025-11-04
Form: POS AM
Chunk 77
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holders of the Fund may be allocated effectively connected income. The Fund may be considered to be engaged in a U.S. trade or business as a result of its activities and, therefore, may allocate effectively connected income (“ ECI”) to Non-U.S. Shareholders. A Non-U.S. Shareholder’s share of any ECI generally will be subject to U.S. federal withholding at the highest applicable rate under the Code, and generally will result in the Non-U.S. Shareholder being required to file a U.S. federal income tax return. Tax legislation that has been or could be enacted may affect you with respect to your investment in the Fund. Legislative, regulatory or administrative changes could be enacted or promulgated at any time, either prospectively or with retroactive effect, and may adversely affect the Fund and its Shareholders. Please consult a tax advisor regarding the implications of an investment in Shares of the Fund, including without limitation the federal, state, local and non-U.S. tax consequences. PROSPECTIVE INVESTORS ARE STRONGLY URGED TO CONSULT THEIR OWN TAX ADVISORS WITH RESPECT TO THE POSSIBLE TAX CONSEQUENCES TO THEM OF AN INVESTMENT IN SHARES; SUCH TAX CONSEQUENCES MAY DIFFER IN RESPECT OF DIFFERENT INVESTORS. 62 THE OFFERING The Fund in General The Fund seeks to provide investors with price exposure to the bitcoin market. In furtherance of this goal, the Fund’s investment objective is for changes in the Shares’ NAV to reflect the daily changes of the price of the Benchmark, less expenses from the Fund’s operations. NYSE Arca developed the Benchmark as a representation of the bitcoin spot market. As of August 31, 2025, the Fund’s total net assets were $14,672,828 and the Fund had 120,000 shares outstanding. For current information about outstanding Fund Shares and other information, see the Fund’s website at https://hashdex-etfs.com/defi. The Fund’s assets will consist of bitcoin and cash. The Sponsor believes that by investing in bitcoin, the Fund’s NAV will closely track the Benchmark. The Sponsor also believes that because of market arbitrage opportunities, the market price at which investors will purchase and sell Shares through their broker-dealer will closely track the Fund’s NAV. The Sponsor believes that the net effect of these relationships is that the Fund’s market price on NYSE Arca at which investors purchase and sell Shares will closely track the bitcoin market, as measured by