An investment in the Fund involves significant risks associated with an investment in bitcoin and bitcoin futures contracts which are complex and subject to a high degree of volatility and thus an investment may not be suitable for all investors. For a more complete discussion of the risk factors relative to the Fund, carefully read the prospectus. An investment in the Fund is not suitable for all investors, may be deemed speculative and is not intended as a complete investment program. An investment in Shares should be considered only by persons who can bear the risk of total loss associated with an investment in the Fund.

This material must be preceded or accompanied by a prospectus. Please read the prospectus carefully before investing.

The Hashdex Bitcoin ETF (the "Fund") is a commodity pool that issues shares ("Shares") that may be purchased and sold on NYSE Arca. The Fund’s investment objective is for changes in the Shares’ NAV to reflect the daily changes of the price of the Nasdaq Bitcoin Reference Price – Settlement ("Benchmark"), less expenses from the Fund’s operations. The Benchmark is designed to track the price performance of bitcoin. The Fund invests in bitcoin, bitcoin futures contracts listed on the Chicago Mercantile Exchange Inc., and cash and cash equivalents. Because the Fund’s investment objective is to track the price of the Benchmark, changes in the price of the Shares may vary from changes in the spot price of bitcoin.

The Fund employs Foreside Fund Services LLC as the Marketing Agent. The Marketing Support Services Agreement among the marketing agent, the sponsor, and calls for the marketing agent to work with the US Bank (the Fund’s cash custodian) in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising material. The Marketing Agent's principal business address is Three Canal Plaza, Suite 100, Portland, Maine 04101. The Marketing Agent is a broker-dealer registered with the U.S Securities and Exchange Commission ("SEC") and a member of FINRA.

This material is not an offer or solicitation of any kind to buy or sell any securities outside of the United States of America.

The Fund is a series of the Tidal Commodities Trust I (the "Trust"). The sponsor to the Fund is Tidal Investments LLC (the "Sponsor"), which receives a management fee. The Sponsor is registered as a commodity pool operator ("CPO") and a commodity trading adviser ("CTA") with the Commodity Futures Trading Commission ("CFTC") and is a member of the National Futures Association ("NFA"). Hashdex Asset Management Ltd. ("Hashdex") serves as the Fund's Digital Asset Adviser and will assist the Sponsor and Tidal ETF Services LLC (the "Support Agent") with research and investment analysis regarding bitcoin and bitcoin markets for use in the marketing of the Fund. Hashdex will also provide the Fund with marketing services including, but not limited to, branding, the issuance of press releases, preparation of website data content, holding promotional webinars, and engaging in promotional activities through social media outlets.

Hashdex has no responsibility for the investment or management of the Fund's investment portfolio or for the overall performance or operation of the Fund. For more information pertaining to the relationship of companies involved in the Fund, please read the prospectus.

The Fund is a commodity pool regulated by the Commodity Futures Trading Commission. Commodities and futures generally are volatile, and instruments whose underlying investments include commodities and futures are not suitable for all investors.

Because the Fund will invest primarily in bitcoin and bitcoin futures contracts, an investment in the Fund will subject the investor to the risks of the Bitcoin market, and this could result in substantial fluctuations in the price of the Fund’s shares.

Shares of the Fund are not insured by the Federal Deposit Insurance Corporation ("FDIC"), may lose value and have no bank guarantee.

Shares of the Fund are not deposits or other obligations of or guaranteed by the Sponsor, Hashdex, or any of the Fund’s service providers, nor any of their affiliates.

Unlike mutual funds, commodity pools and other investment pools that manage their investments to realize income and gains for distribution to their investors, the Fund generally does not distribute dividends to holders of Fund Shares. You should not invest in the Fund if you will need cash distributions from the Fund to pay taxes on your share of income and gains of the Fund, if any, or for other purposes.

The Fund may not be successful in implementing its investment objective or may fail to attract sufficient assets. The Bitcoin market is less developed than older, more established assets and may be more volatile and less liquid. Investors may choose to use the Fund as a means of investing indirectly in Bitcoin, and there are risks involved in this investment strategy. The risks and hazards that are inherent in the market for Bitcoin may cause the price of Bitcoin to fluctuate widely.

You will have no rights to participate in the management of the Fund and will have to rely on the duties and judgment of the Sponsor to manage the Fund. The Fund is subject to position limits, accountability limits, and dynamic price fluctuation limits that could limit the Fund’s ability to invest the proceeds of creation baskets in Bitcoin and Bitcoin futures contracts. Position limits, accountability limits, and dynamic price fluctuation limits may cause tracking error or may impair the Fund’s ability to meet its investment objective of tracking the Benchmark.

Commodities and futures investing is generally volatile and risky which may not be suitable for all investors. Futures may be affected by Backwardation: a market condition in which a futures price is lower in the distant delivery months than in the near delivery months. As a result, the fund may benefit because it would be selling more expensive contracts and buying less expensive ones on an ongoing basis; and Contango: A condition in which distant delivery prices for futures exceeds spot prices, often due to costs of storing and insuring the underlying commodity. Opposite of backwardation. As a result, the Fund’s total return may be lower than might otherwise be the case because it would be selling less expensive contracts and buying more expensive one.

An investment in Shares should be considered only by persons who can bear the risk of total loss associated with an investment in the Fund. Extreme volatility of trading prices that many digital assets, including Bitcoin, have experienced in recent periods and may continue to experience, could have a material adverse effect on the value of the Fund and the shares could lose all or substantially all of their value. Digital assets represent a new and rapidly evolving industry. The value of the Fund depends on the acceptance of the digital assets, the capabilities and development of blockchain technologies and the fundamental investment characteristics of the digital asset.

Digital asset networks are developed by a diverse set of contributors and the perception that certain high-profile contributors will no longer contribute to the network could have an adverse effect on the market price of the related digital asset. Digital assets may have concentrated ownership and large sales or distributions by holders of such digital assets could have an adverse effect on the market price of such digital assets.

The Sponsor is not responsible for losses incurred due to loss, theft, destruction, or compromise of the Fund's Bitcoin. The value of the shares of the Fund will be adversely affected if Bitcoin owned by the Fund is lost or damaged in circumstances in which the Fund is not in a position to recover the corresponding loss.

Bitcoin Risks. Bitcoin is a relatively new asset class and the market for Bitcoin is subject to rapid changes and uncertainty. Bitcoin is subject to unique and substantial risks, including significant price volatility and lack of liquidity. The value of an investment in the Fund could decline significantly and without warning, including to zero. You should be prepared to lose your entire investment. The Fund invests directly in Bitcoin. Bitcoin is largely unregulated and Bitcoin investments may be more susceptible to fraud and manipulation than more regulated investments. Bitcoin is subject to rapid price swings, including as a result of actions and statements by influencers and the media.

Liquidity Risk. The market for Bitcoin is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Possible illiquid markets may exacerbate losses or increase the variability between the Fund’s NAV and its market price. The lack of active trading markets for the Shares may result in losses on investors’ investments at the time of disposition of Shares.

Regulatory Risk. Future and current regulations by a U.S. or foreign governmental or quasi-governmental agency could have an adverse effect on an investment in the Fund. The regulatory environment for cryptocurrencies, which continues to evolve in the U.S., and which may delay, impede, or restrict the adoption or use of Bitcoin.