Wed, May 15, 9:38 PM (244 days ago)
Tidal Commodities Trust I's quarterly report for the period ended March 31, 2024, reflects a significant increase in net assets, driven by a surge in net investor inflows and Bitcoin price appreciation. The Fund's net assets rose by 414% year-over-year, with shares outstanding increasing by 133% and NAV per share rising by 121%. The Fund completed a merger with Hashdex Bitcoin Futures ETF, transitioning its investment strategy to hold spot Bitcoin, which now comprises 95% of its assets. The Fund's total return for the quarter was 59.78%, with an annualized expense ratio of 1.30%. Management fees increased due to higher average net assets, though the Sponsor waived no expenses this quarter. The Fund's liquidity needs are met through proceeds from investments and cash equivalents, with no off-balance sheet arrangements. Future operations may be impacted by market disruptions or regulatory changes affecting Bitcoin futures and spot markets.