Tidal Commodities Trust I Q2 2024 10-Q Filed

Ticker: DEFI · Form: 10-Q · Filed: Aug 14, 2024 · CIK: 1985840

Sentiment: neutral

Topics: 10-Q, cryptocurrency, derivatives, financial-holdings

TL;DR

Tidal Commodities Trust I Q2 10-Q shows crypto and futures exposure. Holdings include Bitcoin, CME Micro Bitcoin futures, and money market funds.

AI Summary

Tidal Commodities Trust I filed its 10-Q for the period ending June 30, 2024. The filing details its holdings, which include cryptocurrency assets like Bitcoin and various futures contracts. The trust also holds cash equivalents and money market funds, such as those from First American Government Obligations Fund Class X and US Bank Deposit Account.

Why It Matters

This filing provides investors with a snapshot of Tidal Commodities Trust I's financial position and asset allocation as of mid-2024, crucial for understanding its exposure to cryptocurrency and traditional financial instruments.

Risk Assessment

Risk Level: medium — The inclusion of cryptocurrency and futures contracts introduces significant volatility and market risk.

Key Numbers

Key Players & Entities

FAQ

What are the primary cryptocurrency assets held by Tidal Commodities Trust I as of June 30, 2024?

As of June 30, 2024, the trust held 'defi:BitcoinMember' and 'defi:CryptocurrencyMember'.

What specific derivative instruments are listed in the filing for the period ending June 30, 2024?

The filing lists 'defi:CMEMicroBitcoinFuturesJuly2024DerivativeLiabilityMember' and 'defi:CryptocurrencyFuturesContractsDerivativeLiabilityMember' as derivative liabilities.

What types of cash equivalents or money market funds does the trust hold?

The trust holds 'defi:MoneyMarketFundsFirstAmericanGovernmentObligationsFundClassXMember' and 'us-gaap:CashEquivalentsMember' as of June 30, 2024, and 'defi:MoneyMarketFundsUSBankDepositAccountMember' and 'us-gaap:CashEquivalentsMember' as of December 31, 2023.

What is the filing date and the period of report for this 10-Q?

The filing date is August 14, 2024, and the period of report is June 30, 2024.

What is the company's IRS number and state of incorporation?

The company's IRS number is 000000000 and its state of incorporation is DE.

Filing Stats: 4,544 words · 18 min read · ~15 pages · Grade level 12.7 · Accepted 2024-08-14 17:30:15

Filing Documents

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 4 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 12 Item 4.

Controls and Procedures

Controls and Procedures 12

OTHER INFORMATION

Part II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 13 Item 1A. Risk Factors applicable to Funds 13 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 13 Item 3. Defaults Upon Senior Securities 13 Item 4. Mine Safety Disclosures 13 Item 5. Other Information 13 Item 6. Exhibits 14 2 Part I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Index to Financial Statements Documents Page TIDAL COMMODITIES TRUST I Combined Statements of Assets and Liabilities at June 30, 2024 (Unaudited) and December 31, 2023 F-1 Combined Schedule of Investments at June 30, 2024 (Unaudited) and December 31, 2023 F-2 Combined Statements of Operations (Unaudited) for the six months ended June 30, 2024 and 2023 F-4 Combined Statements of Changes in Net Assets (Unaudited) for the six months ended June 30, 2024 and 2023 F-5 Combined Statements of Cash Flows (Unaudited) for the six months ended June 30, 2024 and 2023 F-6 HASHDEX BITCOIN ETF F-7 Schedule of Investments at June 30, 2024 (Unaudited) and December 31, 2023 F-8 F-10 F-11 F-12

Notes to Financial Statements

Notes to Financial Statements F-13 3 TIDAL COMMODITIES TRUST I COMBINED June 30, 2024 (Unaudited) December 31, 2023 Assets Investments (Cost $ 12,319,113 ) $ 10,676,172 $ — Cash and cash equivalents 61,231 1,867,663 Interest receivable 267 10,297 Equity in trading accounts: Cryptocurrency futures contracts — 129,519 Due from broker 228,464 582,908 Total equity in trading accounts 228,464 712,427 Total assets $ 10,966,134 $ 2,590,387 Liabilities Management fee payable to Sponsor 8,939 2,053 Equity in trading accounts: Cryptocurrency futures contracts 7,725 51,376 Total liabilities $ 16,664 $ 53,429 Net assets $ 10,949,470 $ 2,536,958 Shares Outstanding 160,000 50,000 Net asset value per share $ 68.43 $ 50.74 Market value per share $ 68.70 $ 50.73 The accompanying notes are an integral part of these financial statements. F-1 TIDAL COMMODITIES TRUST I COMBINED SCHEDULE OF INVESTMENTS June 30, 2024 (Unaudited) Description: Assets Fair Value Percentage of Net Assets Shares Cryptocurrency Bitcoin $ 10,676,172 97.50 % 17,831 Total Cryptocurrency (cost $ 12,319,113 ) $ 10,676,172 97.50 % Cash equivalents Money market funds First American Government Obligations Fund - Class X, 5.23 % $ 61,231 0.56 % 61,231 Total Cash Equivalents (cost $ 61,231 ) $ 61,231 0.56 % Description: Liabilities Fair Value Percentage of Net Assets Notional Amount (Long Exposure) Cryptocurrency futures contracts United States CME Bitcoin Futures contracts CME Bitcoin Futures July 2024 ( 1 contracts) $ 7,725 0.07 % $ 301,625 Total cryptocurrency futures contracts $ 7,725 0.07 % $ 301,625 The accompanying notes are an integral part of these financial statements. F-2 TIDAL COMMODITIES TRUST I (FORMERLY TEUCRIUM COMMODITIES TRUST) SCHEDULE OF INVESTMENTS December 31, 2023 Description: Assets Yield Fair Value Percentage of

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