Tidal Commodities Trust I (DEFI) Confirms Emerging Growth Status

TL;DR

**Tidal Commodities Trust I (DEFI) is an emerging growth company, impacting its financial reporting.**

AI Summary

Tidal Commodities Trust I, the registrant for the Hashdex Bitcoin Futures ETF (trading symbol DEFI), filed an 8-K on January 3, 2024. This filing indicates that the trust is an 'emerging growth company' and has not elected to use the extended transition period for complying with new or revised financial accounting standards. This matters to investors because it signals the company's approach to regulatory compliance and financial reporting, potentially affecting transparency and operational costs for the DEFI ETF.

Why It Matters

This filing clarifies Tidal Commodities Trust I's regulatory status as an 'emerging growth company,' which impacts its financial reporting requirements and could influence investor perception of its operational maturity and transparency.

Risk Assessment

Risk Level: low — This filing is primarily administrative, confirming a regulatory status rather than announcing a significant operational or financial event, thus posing low immediate risk.

Analyst Insight

A smart investor would note this administrative filing as confirmation of the trust's regulatory status, which could influence its reporting transparency and compliance costs, but it doesn't suggest immediate action.

Key Players & Entities

• Tidal Commodities Trust I (company) — registrant for the Hashdex Bitcoin Futures ETF
• Hashdex Bitcoin Futures ETF (company) — a series of the registrant
• DEFI (company) — trading symbol for the Hashdex Bitcoin Futures ETF
• January 3, 2024 (date) — date of earliest event reported and filing date
• 001-41900 (dollar_amount) — Commission file number

Forward-Looking Statements

• Tidal Commodities Trust I will continue to operate under the 'emerging growth company' designation for the foreseeable future. (Tidal Commodities Trust I) — high confidence, target: 2025-01-03

FAQ

Filing Documents

• tidal-8k_010324.htm (8-K) — 26KB
• ex99-1.htm (EX-99.1) — 4KB
• 0001839882-24-000097.txt ( ) — 31KB

01 Completion

Item 2.01 Completion of Acquisition On January 3, 2024 (“Closing Date”), Tidal Commodities Trust I (“Registrant”) completed the successful acquisition by merger (“Merger”) of the Hashdex Bitcoin Futures ETF (“Predecessor Fund”), a series of the Teucrium Commodity Trust (“Teucrium Trust”), into the Hashdex Bitcoin Futures ETF (“Fund”), a series of the Registrant. The Merger was effected pursuant to an Agreement and Plan of Partnership Merger and Liquidation dated as of October 30, 2023 (the “Plan of Merger”) between the Teucrium Trust, on behalf of its Predecessor Fund series, and the Registrant, on behalf of its Fund series. Pursuant to the Plan of Merger, each Predecessor Fund shareholder received one share of the Fund for every one share of the Predecessor Fund held immediately before the commencement of trading on the NYSE Arca on the Closing Date based on the net asset value per share of the Predecessor Fund being equal to the net asset value per share of the Fund determined immediately prior to the Merger closing. The share price used for the delivery of shares of the Predecessor Fund was the net asset value per share of the Predecessor Fund determined after the close of business of NYSE Arca on January 2, 2024. Consequently, the Merger resulted in a one-for-one exchange of shares between the Predecessor Fund and the Fund. Further, the Fund acquired in the Merger all the assets of the Predecessor Fund and assumed all the liabilities of the Predecessor Fund. Effective the Merger closing, the Plan of Merger caused all of the Predecessor Fund’s shares to be cancelled and the Predecessor Fund to be liquidated. The Merger did not materially modify the rights of Predecessor Fund shareholders with respect to their investment. The Fund has the same investment objective, investment strategies and investment restrictions, and substantially identical investment risks, as those

01. Other

Item 8.01. Other Events On January 3, 2024, the Registrant and Teucrium Trust issued a joint press release announcing the successful merger of the Predecessor Fund into the Registrant. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference into this

01. Financial

Item 9.01. Financial (d) Exhibits: Exhibit. Description 99.1 Joint Press Release, dated January 3, 2024, by Teucrium Commodity Trust and Tidal Commodities Trust I. 104 Cover Page Interactive Date File (embedded within the Inline XBRL Document) Cautionary Note Regarding Forward-Looking Statements This Current Report on Form 8-K includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements reflect the present expectations Tidal Investments LLC, as sponsor of the Registrant (“Sponsor”), regarding future events and are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in or implied by these statements, including, among others, risks and uncertainties related to the timing, progression, outcome and costs of these legal proceedings, as well as other risks inherent in all legal proceedings. Given these risks, uncertainties and other important factors, you should not place undue reliance on any forward-looking statements the Sponsor makes. The forward-looking statements in this report represent the Sponsor’s expectations and assumptions only as of the date made, and except as required by law, the Sponsor undertakes no obligation to revise or update any forward-looking statements for any reason. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TIDAL COMMODITIES TRUST I By: Tidal Investments LLC, as Sponsor Date: January 3, 2024 By: /s/ Guillermo Trias Name: Guillermo Trias Title: Chief Executive Officer of Tidal Investment LLC, as Sponsor

View Full Filing

View this 8-K filing on SEC EDGAR