Company: DEFI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001999371-25-017892
Chunk: 6

Company: Tidal Commodities Trust I
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 6
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 are unobservable and
significant to the overall fair value measurement.

The availability of valuation techniques
and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including,
the type of financial instrument, whether the financial instrument is new and not yet established in the marketplace, and other
characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable
or unobservable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily
represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined.
Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that
would have been used had a ready market for the financial instruments existed. Accordingly, the degree of judgment exercised by
the Fund in determining fair value is greatest for financial instruments categorized in Level 3. In certain cases, the inputs used
to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level
in the fair value hierarchy, within which the fair value measurement in its entirety falls, is determined based on the lowest level
input that is significant to the fair value measurement.
Schedule of fair values of investments disaggregated into three levels of fair value hierarchy

    September 30, 2025 

    Balance as of 

    Level 1  
    Level 2  
    Level 3  
    September 30, 2025 

    Assets: 

    Cryptocurrency 
    $—  
    $15,439,452  
    $—  
    $15,439,452 

    Money market funds 
     60,692  
     —  
     —  
     60,692 

    Total 
    $60,692  
    $15,439,452  
    $—  
    $15,500,144 

    December 31, 2024 

    Balance as of 

    December 31, 

    Level 1  
    Level 2  
    Level 3  
    2024 

    Assets: 

    Cryptocurrency 
    $—  
    $14,713,026  
    $—  
    $14,713,026 

    Money market funds