Tidal Commodities Trust I Files Q3 2024 10-Q

TL;DR

**Tidal Commodities Trust I Q3 2024 10-Q filed. Holdings include Bitcoin & crypto assets.**

AI Summary

Tidal Commodities Trust I filed its 10-Q for the period ending September 30, 2024. The filing details its holdings, which include Bitcoin and cryptocurrency assets, as well as money market funds. The company's address is 234 West Florida Street, Suite 203, Milwaukee, WI 53204.

Why It Matters

This filing provides insight into the asset allocation and financial status of Tidal Commodities Trust I, which is relevant for investors and those tracking the cryptocurrency and commodities markets.

Risk Assessment

Risk Level: medium — The company's focus on cryptocurrency assets introduces significant volatility and regulatory risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the specific date for which financial information is provided.)
• 2024-01-01 — Reporting Period Start Date (Marks the beginning of the period covered by the 10-Q.)

Key Players & Entities

• Tidal Commodities Trust I (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of reporting period
• 234 West Florida Street, Suite 203, Milwaukee, WI 53204 (address) — Company business and mailing address
• Bitcoin (cryptocurrency) — Key asset held by the trust
• Cryptocurrency (cryptocurrency) — General asset class held by the trust

FAQ

Filing Documents

• defi-10q_093024.htm (10-Q) — 625KB
• ex31-1.htm (EX-31.1) — 16KB
• ex31-2.htm (EX-31.2) — 16KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• defi10q001.jpg (GRAPHIC) — 58KB
• 0001839882-24-039310.txt ( ) — 3498KB
• defi-20240930.xsd (EX-101.SCH) — 25KB
• defi-20240930_cal.xml (EX-101.CAL) — 39KB
• defi-20240930_def.xml (EX-101.DEF) — 99KB
• defi-20240930_lab.xml (EX-101.LAB) — 176KB
• defi-20240930_pre.xml (EX-101.PRE) — 150KB
• defi-10q_093024_htm.xml (XML) — 533KB

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 14 Item 5. Other Information 14 Item 6. Exhibits 14 2

FINANCIAL INFORMATION

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 September 30, 2024 (Unaudited) and December 31, 2023 F-1 Combined Schedule of Investments at September 30, 2024 (Unaudited) and December 31, 2023 F-2 Combined Statements of Operations (Unaudited) for the three and nine months ended September 30, 2024 and 2023 F-4 Combined Statements of Changes in Net Assets (Unaudited) for the nine months ended September 30, 2024 and 2023 F-5 Combined Statements of Cash Flows (Unaudited) for the nine months ended September 30, 2024 and 2023 F-6 HASHDEX BITCOIN ETF F-7 Schedule of Investments at September 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 STATEMENTS OF ASSETS AND LIABILITIES September 30, 2024 (Unaudited) December 31, 2023 * Assets Investments (Cost $ 10,145,099 and $ 0 , respectively) $ 9,379,568 $ — Cash and cash equivalents (cost $ 12,413 and $ 1,867,663 , respectively) 12,413 1,867,663 Interest receivable 43 10,297 Equity in trading accounts: Cryptocurrency futures contracts — 129,519 Due from broker 7,072 582,908 Total equity in trading accounts 7,072 712,427 Total assets $ 9,399,096 $ 2,590,387 Liabilities Management fee payable to Sponsor 6,568 2,053 Equity in trading accounts: Cryptocurrency futures contracts — 51,376 Total liabilities $ 6,568 $ 53,429 Net assets $ 9,392,528 $ 2,536,958 Shares Outstanding 130,000 50,000 Net asset value per share $ 72.25 $ 50.74 Market value per share $ 72.39 $ 50.73 * Reflects the assets and liabilities of the Hashdex Bitcoin Futures ETF, which was a series of Teucrium Commodity Trust until January 3, 2024. Please see Note 5 in the accompanying Notes to Financial Statements for more information. The accompanying notes are an integral part of these financial statements. F-1 TIDAL COMMODITIES TRUST I COMBINED SCHEDULE OF INVESTMENTS September 30, 2024 (Unaudited) Description: Assets Fair Value Percentage of Net Assets Shares Cryptocurrency Bitcoin $ 9,379,568 99.86 % 14,800 Total Cryptocurrency (cost $ 10,145,099 ) $ 9,379,568 99.86 % Cash equivalents Money market funds First American Government Obligations Fund - Class X, 4.82 % $ 12,413 0.14 % 12,413 Total Cash Equivalents (cost $ 12,413 ) $ 12,413 0.14 % The accompanying notes are an integral part of these financial statements. F-2 TIDAL COMMODITIES TRUST I SCHEDULE OF INVESTMENTS December 31, 2023* Description: Assets Yield Fair Value Percentage of Net Assets Shares Cash equivalents Money market funds U.

NOTES TO FINANCIAL STATEMENTS

NOTES TO FINANCIAL STATEMENTS September 30, 2024 (Unaudited) Note 1 – Organization and Significant Accounting Policies These footnotes represent the footnotes to Hashdex Bitcoin ETF's Statement of Assets and Liabilities and the Combined Financial Statements of Tidal Commodities Trust I. Hashdex Bitcoin ETF (the "Fund") is a series of Tidal Commodities Trust I ("Trust"), a Delaware statutory trust organized on February 10, 2023. The Fund operates pursuant to the First Amended and Restated Declaration of Trust and Trust Agreement ("Trust Agreement"), dated March 10, 2023. The Fund is currently the Trust's only publicly offered series. However, the second series of the Trust, the 7RCC Spot Bitcoin and Carbon Credit Futures ETF, may be offered in the future. The Trust is registered with the U.S. Securities and Exchange Commission ("SEC") under the Securities Act of 1933, as amended (together with the rules and regulations adopted thereunder, as amended, the "1933 Act"), as an exchange-traded fund. The Fund was formed and is managed and controlled by the Sponsor, a limited liability company formed in Delaware on March 14, 2012. The sponsor of the Fund is Tidal Investments LLC (f/k/a Toroso Investments, LLC, the "Sponsor"), The Sponsor is registered as a commodity pool operator ("CPO") with the Commodity Futures Trading Commission ("CFTC") and is a member of the National Futures Association ("NFA"). The Fund intends to be treated as a partnership for U.S. federal income tax purposes. On January 2, 2024, the initial Form S-1 for DEFI was declared effective by the U.S. Securities and Exchange Commission ("SEC"). The Fund is the successor and surviving entity from the merger (the "Merger") of the Hashdex Bitcoin Futures ETF (the "Predecessor Fund") into the Fund. The Predecessor Fund was a series of the Teucrium Commodity Trust (the "Predecessor Trust") sponsored by Teucrium Trading, LLC ("Prior Sponsor"). The Merger closed on January 3, 2024. In connection with the

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