Annual Report by Investment Company Form N CSR

Adasina Social Justice All Cap Global ETF

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number (811-23377)

Tidal ETF Trust
(Exact name of registrant as specified in charter)

234 West Florida Street, Suite 203

Milwaukee, Wisconsin 53204
(Address of principal executive offices) (Zip code)

Eric W. Falkeis

Tidal ETF Trust
234 West Florida Street, Suite 203

Milwaukee, Wisconsin 53204
(Name and address of agent for service)

(844) 986-7700

Registrant's telephone number, including area code

Date of fiscal year end: August 31

Date of reporting period: August 31, 2024

Item 1. Reports to Stockholders.

Item 2. Code of Ethics.

The registrant has adopted a code of ethics that applies to the registrant's principal executive officer and principal financial officer. The registrant has not made any substantive amendments to its code of ethics during the period covered by this report. The registrant has not granted any waivers from any provisions of the code of ethics during the period covered by this report.

A copy of the registrant's Code of Ethics is filed herewith.

Item 3. Audit Committee Financial Expert.

The registrant's Board of Trustees of the Trust has determined that there is at least one audit committee financial expert serving on its audit committee. Mr. Dusko Culafic is the "audit committee financial expert" and is considered to be "independent" as each term is defined in Item 3 of Form N-CSR.

Item 4. Principal Accountant Fees and Services.

The registrant has engaged its principal accountant to perform audit services, audit-related services, tax services and other services during the past two fiscal years. "Audit services" refer to performing an audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for the fiscal year. "Audit-related services" refer to the assurance and related services by the principal accountant that are reasonably related to the performance of the audit. "Tax services" refer to professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning. There were no "Other services" provided by the principal accountant. The following table details the aggregate fees billed or expected to be billed for each of the last two fiscal years for audit fees, audit-related fees, tax fees and other fees by the principal accountant.

Adasina Social Justice All Cap Global ETF

	FYE 8/31/2024	FYE 8/31/2023
( a ) Audit Fees	$13,125	$13,125
( b ) Audit-Related Fees	N/A	N/A
( c ) Tax Fees	$2,625	$2,625
( d ) All Other Fees	N/A	N/A

(e)(1) The audit committee has adopted pre-approval policies and procedures that require the audit committee to pre-approve all audit and non-audit services of the registrant, including services provided to any entity affiliated with the registrant.

(e)(2) The percentage of fees billed by Tait Weller & Baker LLP applicable to non-audit services pursuant to waiver of pre-approval requirement were as follows:

	FYE 8/31/2024	FYE 8/31/2023
Audit-Related Fees	0%	0%
Tax Fees	0%	0%
All Other Fees	0%	0%

(f) All of the principal accountant's hours spent on auditing the registrant's financial statements were attributed to work performed by full-time permanent employees of the principal accountant.

(g) The following table indicates the non-audit fees billed or expected to be billed by the registrant's accountant for services to the registrant and to the registrant's investment adviser (and any other controlling entity, etc.-not sub-adviser) for the last two years.

Non-Audit Related Fees	FYE 8/31/2024	FYE 8/31/2023
Registrant	N/A	N/A
Registrant's Investment Adviser	N/A	N/A

(h) The audit committee of the board of trustees/directors has considered whether the provision of non-audit services that were rendered to the registrant's investment adviser is compatible with maintaining the principal accountant's independence and has concluded that the provision of such non-audit services by the accountant has not compromised the accountant's independence.

(i) The registrant has not been identified by the U.S. Securities and Exchange Commission as having filed an annual report issued by a registered public accounting firm branch or office that is located in a foreign jurisdiction where the Public Company Accounting Oversight Board is unable to inspect or completely investigate because of a position taken by an authority in that jurisdiction.

(j) The registrant is not a foreign issuer.

Item 5. Audit Committee of Listed Registrants.

(a) The registrant is an issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934, (the "Act") and has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Act. The independent members of the committee are as follows: Dusko Culafic, Eduardo Mendoza, and Mark H.W. Baltimore.

(b) Not applicable

Item 6. Investments.

(a) Schedule of Investments is included within the financial statements filed under Item 7 of this Form.

(b) Not applicable.

Item 7. Financial Statements and Financial Highlights for Open-End Investment Companies.

(a)

Core Financial Statements

August 31, 2024

Tidal ETF Trust

Adasina Social Justice All Cap Global ETF

| JSTC

| NYSE Arca, Inc.

Adasina Social Justice

All Cap Global ETF

Table of Contents

	Page
Schedule of Investments	1
Statement of Assets and Liabilities	17
Statement of Operations	18
Statements of Changes in Net Assets	19
Financial Highlights	20
Notes to the Financial Statements	21
Report of Independent Registered Public Accounting Firm	30
Other Non-Audited Information	31

	Adasina Social Justice
Schedule of Investments	All Cap Global ETF
August 31, 2024

COMMON STOCKS - 99.6%		Shares			Value
Advertising - 0.6%
Focus Media Information Technology Co. Ltd. - Class A			96,660			$	78,139
The Interpublic Group of Cos, Inc.(b)			37,802				1,232,723
							1,310,862
Aerospace & Defense - 0.1%
Barnes Group, Inc.			3,226				129,169
Agriculture - 0.0%(c)
GrainCorp Ltd. - Class A			10,061				59,799
Apparel - 0.0%(c)
On Holding AG - Class A (a)(b)			950				44,631
Auto Manufacturers - 0.2%
Great Wall Motor Co. Ltd. - Class H			228,115				328,118
Auto Parts & Equipment - 0.0%(c)
Fox Factory Holding Corp. (a)			847				34,287
PWR Holdings Ltd.			4,900				30,387
Visteon Corp. (a)			352				35,633
							100,307
Banks - 6.9%
1st Source Corp.			4,097				251,740
Associated Banc-Corp (b)			4,451				101,839
Banco de Sabadell SA			17,793				38,268
Bangkok Bank PCL			19,922				82,996
Bank Central Asia Tbk PT			999,590				667,795
Bank of Chengdu Co. Ltd. - Class A			31,700				62,298
Bank of Suzhou Co. Ltd. - Class A			45,800				45,295
Bankinter SA			6,367				56,353
BankUnited, Inc.			1,368				52,572
Banque Cantonale Vaudoise			918				98,351
BDO Unibank, Inc.			499,762				1,359,993
BOC Hong Kong Holdings Ltd.			157,029				495,220
Canadian Western Bank			2,981				113,843
City Holding Co.			2,003				237,836
Computershare Ltd.			9,744				187,959
Credicorp Ltd.			4,641				827,722
Cullen/Frost Bankers, Inc. (b)			931				104,486
East West Bancorp, Inc. (b)			16,325				1,372,443
First Interstate BancSystem, Inc. - Class A			1,420				44,091
First Merchants Corp.			1,174				45,786
Glacier Bancorp, Inc.			1,013				47,915
Grupo Financiero Inbursa SAB de CV (a)			130,979				312,037
Hang Seng Bank Ltd.			53,334				644,761
Hope Bancorp, Inc.			14,352				183,562
Kasikornbank PCL			15,587				65,857
Laurentian Bank of Canada			8,619				165,058
M&T Bank Corp.			12,792				2,201,631
Malayan Banking Bhd			270,298				674,104
NBT Bancorp, Inc.			4,078				199,659
NU Holdings Ltd. - Class A (a)			27,139				406,271
Paragon Banking Group PLC			15,121				152,524
Popular, Inc.			420				43,050
Powszechna Kasa Oszczednosci Bank Polski SA			22,810				341,846

	Adasina Social Justice
Schedule of Investments	All Cap Global ETF
August 31, 2024

Prosperity Bancshares, Inc.			1,541				113,387
Renasant Corp.			4,389				153,615
S&T Bancorp, Inc. (b)			5,237				225,034
SCB X PCL			292,557				924,911
Shanghai Rural Commercial Bank Co. Ltd. - Class A			77,400				72,069
SouthState Corp.			734				71,264
SpareBank 1 SR-Bank ASA			8,637				110,896
Stock Yards Bancorp, Inc.			2,041				123,685
Triumph Financial, Inc. (a)			533				44,761
United Bankshares, Inc.			1,708				66,390
Valiant Holding AG			510				59,328
Walker & Dunlop, Inc.			992				106,204
Webster Financial Corp.			1,718				81,485
Westamerica Bancorp			2,732				141,490
Western Alliance Bancorp			1,186				96,872
							14,076,552
Beverages - 1.2%
Anheuser-Busch InBev SA/NV - ADR			18,654				1,146,102
Anhui Gujing Distillery Co. Ltd. - Class A			1,500				36,403
Asahi Group Holdings Ltd.			12,504				466,050
Becle SAB de CV			19,115				30,904
Britvic PLC			9,159				153,475
Celsius Holdings, Inc. (a)			386				14,680
JDE Peet's NV			1,924				44,127
Kirin Holdings Co. Ltd.			16,994				257,060
Sapporo Holdings Ltd.			1,104				54,955
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. - Class A			1,000				24,947
Suntory Beverage & Food Ltd.			2,556				93,916
Wuliangye Yibin Co. Ltd. - Class A			1,600				27,771
							2,350,390
Biotechnology - 1.1%
Alnylam Pharmaceuticals, Inc. (a)			270				70,926
Argenx SE (a)			134				69,431
Biogen, Inc. (a)			1,237				253,288
Biohaven Ltd. (a)(b)			1,052				41,449
BioMarin Pharmaceutical, Inc. (a)			751				68,499
Exelixis, Inc. (a)			1,870				48,676
Genmab A/S (a)			134				37,255
Guardant Health, Inc. (a)			1,505				38,498
Halozyme Therapeutics, Inc. (a)			851				54,336
Innoviva, Inc. (a)(b)			3,554				68,877
Insmed, Inc. (a)			3,599				275,216
Intellia Therapeutics, Inc. (a)			1,571				35,253
Ionis Pharmaceuticals, Inc. (a)			978				46,631
Moderna, Inc. (a)			719				55,651
Omniab, Inc. - $12.50 Earnout(a)(d)			119				0
Omniab, Inc. - $15.00 Earnout(a)(d)			119				0
Rocket Pharmaceuticals, Inc. (a)			1,808				34,081
Royalty Pharma PLC - Class A			4,283				124,335
Sarepta Therapeutics, Inc. (a)(b)			317				43,042
Veracyte, Inc. (a)			2,740				86,447
Vertex Pharmaceuticals, Inc. (a)			1,810				897,561
							2,349,452
Building Materials - 1.4%
AAON, Inc. (b)			720				68,767

	Adasina Social Justice
Schedule of Investments	All Cap Global ETF
August 31, 2024

American Woodmark Corp. (a)			2,136				191,407
Geberit AG			492				313,716
JELD-WEN Holding, Inc. (a)			8,332				118,648
Lennox International, Inc. (b)			75				44,264
Masco Corp. (b)			19,999				1,591,120
Masterbrand, Inc. (a)			2,372				38,047
Modine Manufacturing Co. (a)(b)			551				66,974
Simpson Manufacturing Co., Inc.			661				121,003
SPX Technologies, Inc. (a)			668				108,977
The AZEK Co., Inc. (a)			1,970				83,981
Trex Co., Inc. (a)			450				28,683
							2,775,587
Chemicals - 2.8%
Aica Kogyo Co. Ltd.			1,714				39,423
Asahi Kasei Corp.			87,077				617,173
Axalta Coating Systems Ltd. (a)			7,545				275,393
Clariant AG			8,168				128,424
DIC Corp.			3,672				79,011
EMS-Chemie Holding AG			856				717,831
Eternal Materials Co. Ltd.			36,825				36,261
HB Fuller Co.			3,343				286,361
Kaneka Corp.			2,211				57,202
Kansai Paint Co. Ltd.			3,552				63,463
LANXESS AG			2,022				57,140
Nippon Paint Holdings Co. Ltd.			9,146				57,927
Nitto Denko Corp.			9,035				751,753
Quaker Chemical Corp.			720				121,875
Rogers Corp. (a)			477				51,163
RPM International, Inc. (b)			17,901				2,080,991
Sensient Technologies Corp.			2,275				177,086
Wacker Chemie AG			478				46,095
							5,644,572
Commercial Services - 7.5%
Adyen NV (Acquired 03/20/2024; Cost $39,691) (a)(e)			25				36,777
Anhui Expressway Co. Ltd. - Class H			28,016				33,115
API Group Corp. (a)			3,589				127,589
Applus Services SA(a)			6,777				95,269
Automatic Data Processing, Inc.			10,020				2,764,618
Beijing-Shanghai High Speed Railway Co. Ltd. - Class A			790,500				605,572
Boyd Group Services, Inc.			556				92,640
Brambles Ltd.			85,127				1,052,940
CBIZ, Inc. (a)			1,456				107,162
CCR SA			14,822				34,442
Deluxe Corp. (b)			5,093				104,865
Dun & Bradstreet Holdings, Inc. (b)			5,731				68,772
Euronet Worldwide, Inc. (a)			507				54,710
EVERTEC, Inc.			1,087				37,230
Experian PLC			2,029				98,238
Graham Holdings Co. - Class B (b)			125				99,399
Herc Holdings, Inc.			748				109,485
Huron Consulting Group, Inc. (a)			3,316				366,219
Insperity, Inc. (b)			572				53,762
Korn Ferry			1,762				128,714
Localiza Rent a Car SA			4,135				30,053
MarketAxess Holdings, Inc. (b)			345				83,624
Moody's Corp.			4,058				1,979,249

	Adasina Social Justice
Schedule of Investments	All Cap Global ETF
August 31, 2024

Paylocity Holding Corp. (a)			255				41,157
Quanta Services, Inc.			5,407				1,487,628
Recruit Holdings Co. Ltd.			4,592				285,319
Robert Half, Inc.			2,575				161,375
S&P Global, Inc.			4,965				2,548,237
Shandong Hi-speed Co. Ltd. - Class A			56,900				72,889
SmartGroup Corp. Ltd.			9,851				53,538
The Bidvest Group Ltd.			9,933				162,911
TriNet Group, Inc.			893				91,827
United International Transportation Co.			4,601				111,574
United Rentals, Inc.			2,465				1,827,206
WEX, Inc. (a)			610				116,522
WillScot Holdings Corp. (a)(b)			1,986				76,540
Wolters Kluwer NV			406				69,275
Zigup PLC			16,659				87,905
							15,358,347
Computers - 4.2%
Addnode Group AB			6,390				68,076
Amdocs Ltd.			8,436				733,679
Bytes Technology Group PLC			7,499				46,972
Compal Electronics, Inc.			43,777				45,433
Crowdstrike Holdings, Inc. - Class A (a)			1,260				349,373
CyberArk Software Ltd. (a)			155				44,445
EPAM Systems, Inc. (a)			826				165,828
ExlService Holdings, Inc. (a)			1,896				69,280
Gartner, Inc. (a)(b)			2,442				1,201,366
Genpact Ltd.			3,467				136,010
Insight Enterprises, Inc. (a)(b)			279				60,562
Logitech International SA			2,219				200,912
NetApp, Inc.			17,610				2,125,879
Nomura Research Institute Ltd.			1,433				48,323
Obic Co. Ltd.			350				60,815
Pure Storage, Inc. - Class A (a)			18,995				974,253
Qualys, Inc. (a)			387				48,441
Quanta Computer, Inc.			246,214				2,062,687
Rapid7, Inc. (a)			1,022				38,642
Tenable Holdings, Inc. (a)			912				37,647
Varonis Systems, Inc. (a)			1,322				74,825
							8,593,448
Cosmetics & Personal Care - 0.2%
Amorepacific Corp.			398				37,063
Genomma Lab Internacional SAB de CV - Class B			36,033				34,832
Prestige Consumer Healthcare, Inc. (a)			593				44,262
Unicharm Corp.			6,752				235,524
							351,681
Distribution & Wholesale - 2.1%
Bufab AB			1,571				66,671
Core & Main, Inc. - Class A (a)			687				32,997
Inchcape PLC			3,642				40,781
Nagase & Co., Ltd.			2,797				61,259
OPENLANE, Inc. (a)			4,559				79,007
Pool Corp. (b)			1,665				585,447
Resideo Technologies, Inc. (a)			1,832				36,933
Rexel SA			1,801				45,532
RS Group PLC			6,108				62,855

	Adasina Social Justice
Schedule of Investments	All Cap Global ETF
August 31, 2024

ScanSource, Inc. (a)			3,484				177,475
SiteOne Landscape Supply, Inc. (a)(b)			614				87,102
W.W. Grainger, Inc.			2,112				2,080,151
Watsco, Inc. (b)			1,754				833,887
WESCO International, Inc.			698				115,435
							4,305,532
Diversified Financial Services - 6.6%
Affiliated Managers Group, Inc.			1,078				187,389
Air Lease Corp. (b)			3,053				141,262
Anima Holding SpA (Acquired 11/30/2022 - 08/06/2024; Cost $41,461) (e)			10,703				59,710
Artisan Partners Asset Management, Inc. - Class A (b)			3,828				159,207
ASX Ltd.			3,510				145,798
B3 SA - Brasil Bolsa Balcao			204,569				456,219
BGC Group, Inc. - Class A			6,435				63,578
Bolsa Mexicana de Valores SAB de CV			29,397				45,342
Brightsphere Investment Group, Inc.			5,123				124,950
Capitec Bank Holdings Ltd.			2,448				403,419
CI Financial Corp.			19,651				254,286
CTBC Financial Holding Co. Ltd.			228,471				233,185
Deutsche Boerse AG			3,104				697,130
E.Sun Financial Holding Co. Ltd.			49,555				43,684
Euronext NV (Acquired 05/31/2023 - 08/06/2024; Cost $26,934) (e)			393				42,022
First Financial Holding Co. Ltd.			55,700				47,447
First National Financial Corp.			6,439				178,443
Fubon Financial Holding Co. Ltd.			61,357				176,265
GF Securities Co. Ltd. - Class H			259,732				208,108
Guotai Junan Securities Co. Ltd. - Class H (Acquired 05/31/2024 - 08/06/2024; Cost $969,749) (e)			896,463				952,730
Helia Group Ltd.			20,187				56,157
Houlihan Lokey, Inc.			963				150,825
IG Group Holdings PLC			3,788				48,390
IGM Financial, Inc.			8,547				251,638
Isracard Ltd.			21,455				76,298
Korea Investment Holdings Co. Ltd.			1,080				58,857
McMillan Shakespeare Ltd.			4,783				51,437
Mega Financial Holding Co. Ltd.			58,042				70,670
Mitsubishi HC Capital, Inc.			6,036				43,465
Nasdaq, Inc.			30,447				2,194,620
Piper Sandler Cos.			263				71,720
Qifu Technology, Inc. - ADR			1,955				51,788
Samsung Card Co. Ltd.			3,639				118,362
Singapore Exchange Ltd.			16,586				137,808
Taiwan Cooperative Financial Holding Co. Ltd.			290,946				235,558
TMX Group Ltd.			7,125				227,270
Tradeweb Markets, Inc. - Class A			8,928				1,055,647
Virtus Investment Partners, Inc.			740				156,628
Visa, Inc. - Class A			12,907				3,567,108
Yuanta Financial Holding Co. Ltd.			231,457				230,806
							13,475,226
Electric - 1.9%
Auren Energia SA			44,466				89,822
Boralex, Inc. - Class A (a)			8,460				202,563
CPFL Energia SA			31,557				185,498
EDP Renovaveis SA			2,258				36,166
Elia Group SA/NV			2,690				295,078
Hydro One Ltd. (Acquired 11/30/2022 - 08/06/2024; Cost $2,063,851) (e)			74,202				2,522,125
Innergex Renewable Energy, Inc.			16,645				112,387

	Adasina Social Justice
Schedule of Investments	All Cap Global ETF
August 31, 2024

Verbund AG - Class A			5,202				444,239
							3,887,878
Electrical Components & Equipment - 0.2%
Belden, Inc. (b)			808				86,682
EnerSys			1,287				130,412
Huber + Suhner AG			661				67,155
Novanta, Inc. (a)			350				64,148
Ta Ya Electric Wire & Cable			23,850				39,439
							387,836
Electronics - 0.9%
Allegion plc			358				49,705
Avnet, Inc.			2,103				116,043
Camtek Ltd. (b)			367				33,404
Delta Electronics Thailand PCL			138,427				435,588
El.En. SpA			4,972				57,017
Horiba Ltd.			453				30,178
Hubbell, Inc. (b)			85				33,993
Mettler-Toledo International, Inc. (a)			434				624,561
NEXTracker, Inc. - Class A (a)			689				28,022
nVent Electric PLC			491				33,368
Oxford Instruments PLC			1,265				38,155
Sartorius AG			168				36,634
Shenzhen Inovance Technology Co. Ltd. - Class A			6,400				39,096
Spectris PLC			1,658				64,848
Synnex Technology International Corp.			13,124				29,579
Venture Corp. Ltd.			7,332				78,863
WPG Holdings Ltd.			19,015				48,266
Yokogawa Electric Corp.			1,458				40,935
							1,818,255
Energy - Alternate Sources - 0.1%
Corp ACCIONA Energias Renovables SA			1,491				34,526
Encavis AG (a)			2,385				44,880
Scatec ASA (Acquired 11/30/2023 - 08/06/2024; Cost $94,832) (a)(e)			12,892				98,587
Shoals Technologies Group, Inc. - Class A (a)			4,935				26,600
Solaria Energia y Medio Ambiente SA (a)			2,735				34,058
Vestas Wind Systems A/S (a)			1,291				29,676
							268,327
Engineering & Construction - 0.9%
Aena SME SA (Acquired 05/31/2024 - 08/06/2024; Cost $563,195) (a)(e)			2,881				582,310
Bilfinger SE			3,385				178,351
Comfort Systems USA, Inc.			126				44,544
COMSYS Holdings Corp.			2,766				60,903
CTCI Corp.			20,617				32,289
Dycom Industries, Inc. (a)			448				78,830
EXEO Group, Inc.			7,308				78,598
Flughafen Zurich AG			347				81,183
Frontdoor, Inc. (a)			2,180				104,814
Grupo Aeroportuario del Pacifico SAB de CV - Class B			3,690				65,319
Kajima Corp.			2,291				41,830
Kinden Corp.			3,670				78,640
Kyudenko Corp.			1,420				63,830
Sacyr SA			29,898				107,490
Sarana Menara Nusantara Tbk PT			847,096				45,767
SPIE SA			1,822				73,612

	Adasina Social Justice
Schedule of Investments	All Cap Global ETF
August 31, 2024

TopBuild Corp. (a)			92				36,158
							1,754,468
Entertainment - 0.3%
Betsson AB (a)			4,940				63,144
Flutter Entertainment PLC (a)			362				77,073
IMAX Corp. (a)			3,468				73,487
International Game Technology PLC			3,919				87,746
Light & Wonder, Inc. - Class A (a)			618				67,869
OPAP SA			6,679				115,627
The Lottery Corp. Ltd.			46,825				158,536
							643,482
Environmental Control - 0.0%(c)
Fluidra SA			1,471				36,440
Sweco AB			4,436				73,163
							109,603
Food - 2.1%
Aeon Co. Ltd.			12,618				316,219
Aryzta AG (a)			28,322				57,348
Bid Corp. Ltd.			6,668				168,677
Cranswick PLC			991				62,777
Grocery Outlet Holding Corp. (a)(b)			1,981				37,520
Grupo Comercial Chedraui SA de CV			6,001				45,770
Kellanova			23,077				1,860,237
Kesko Oyj - Class B			4,197				85,318
Maple Leaf Foods, Inc.			4,409				72,232
Nichirei Corp.			1,614				48,507
Nissin Foods Holdings Co. Ltd.			1,831				47,899
Nomad Foods Ltd.			3,163				59,464
Orion Corp.			508				34,986
Premier Foods PLC			26,039				61,394
The J.M. Smucker Co.			8,055				923,748
The North West Co., Inc.			8,981				304,398
							4,186,494
Forest Products & Paper - 0.0%(c)
Cascades, Inc.			10,602				72,922
Hand & Machine Tools - 1.8%
DMG Mori Co. Ltd.			1,986				47,248
Enerpac Tool Group Corp.			6,456				266,246
Konecranes Oyj			674				47,375
MSA Safety, Inc.			607				110,856
Snap-on, Inc.			9,076				2,575,224
Techtronic Industries Co. Ltd.			39,239				528,693
							3,575,642
Healthcare - Products - 4.2%
Axonics, Inc. (a)			560				38,732
Bio-Techne Corp.			2,474				183,051
Cochlear Ltd.			287				58,491
CONMED Corp. (b)			774				56,672
ConvaTec Group PLC (Acquired 11/30/2023 - 08/06/2024; Cost $71,486) (e)			24,041				75,514
Danaher Corp.			7,516				2,024,134
Demant A/S (a)			831				35,220
Dentium Co. Ltd.			408				24,403

	Adasina Social Justice
Schedule of Investments	All Cap Global ETF
August 31, 2024

Enovis Corp. (a)			1,896				88,354
Envista Holdings Corp. (a)(b)			3,115				56,880
GE HealthCare Technologies, Inc. (b)			485				41,138
Glaukos Corp. (a)			519				69,489
Haemonetics Corp. (a)(b)			664				50,185
IDEXX Laboratories, Inc. (a)			1,311				631,024
Inspire Medical Systems, Inc. (a)			356				64,016
Insulet Corp. (a)			514				104,224
Integer Holdings Corp. (a)(b)			629				81,814
Integra LifeSciences Holdings Corp. (a)			2,003				40,741
Intuitive Surgical, Inc. (a)			3,230				1,591,195
Lantheus Holdings, Inc. (a)(b)			479				50,999
Masimo Corp. (a)			467				54,882
Merit Medical Systems, Inc. (a)			705				68,159
Olympus Corp.			2,339				42,722
Pacific Biosciences of California, Inc. (a)			21,358				29,261
Patterson Cos., Inc. (b)			1,554				34,949
QuidelOrtho Corp. (a)			905				38,236
Repligen Corp. (a)(b)			245				36,978
ResMed, Inc.			2,240				548,845
Smith & Nephew PLC			3,417				52,565
Sonova Holding AG			117				40,790
Straumann Holding AG			395				58,404
Sysmex Corp.			3,113				60,291
Teleflex, Inc.			1,454				356,477
The Cooper Cos., Inc. (a)			5,952				629,305
Varex Imaging Corp. (a)			5,158				64,372
Waters Corp. (a)			1,787				618,927
West Pharmaceutical Services, Inc.			1,122				351,893
							8,453,332
Healthcare - Services - 0.9%
Bangkok Dusit Medical Services PCL			50,689				41,561
BioMerieux			358				41,490
Bumrungrad Hospital PCL			5,757				41,674
Chemed Corp.			165				96,718
Dr Sulaiman Al Habib Medical Services Group Co.			5,909				481,840
Encompass Health Corp.			1,337				124,408
Eurofins Scientific SE			758				43,328
Fortrea Holdings, Inc. (a)(b)			1,405				32,399
IHH Healthcare Bhd			25,874				37,532
Medpace Holdings, Inc. (a)			93				33,040
Molina Healthcare, Inc. (a)			1,156				404,357
Mouwasat Medical Services Co.			1,877				52,019
Nahdi Medical Co.			1,579				55,963
Ramsay Health Care Ltd.			3,439				96,951
Rede D'Or Sao Luiz SA (Acquired 11/29/2023 - 11/30/2023; Cost $121,859) (e)			22,587				126,788
Sonic Healthcare Ltd.			8,103				152,182
Teladoc Health, Inc. (a)(b)			4,954				35,520
							1,897,770
Home Builders - 0.2%
Century Communities, Inc.			666				66,647
Installed Building Products, Inc. (b)			624				138,721
LCI Industries (b)			519				61,159
Tri Pointe Homes, Inc. (a)			2,505				111,322
							377,849

	Adasina Social Justice
Schedule of Investments	All Cap Global ETF
August 31, 2024

Home Furnishings - 0.1%
Dolby Laboratories, Inc. - Class A			2,130				151,997
VTech Holdings Ltd.			4,901				31,855
							183,852
Household Products & Wares - 0.1%
Reynolds Consumer Products, Inc.			1,939				61,078
Spectrum Brands Holdings, Inc.			599				56,498
							117,576
Housewares - 0.0%(c)
Newell Brands, Inc. (b)			4,647				32,947
Insurance - 8.3%
Aflac, Inc.			42,404				4,679,705
Ageas SA/NV			2,471				127,240
AIA Group Ltd.			67,275				478,232
Assured Guaranty Ltd. (b)			999				80,000
Baloise Holding AG			910				176,004
Beazley PLC			4,278				42,168
Brighthouse Financial, Inc. (a)			2,169				99,557
Brown & Brown, Inc.			15,746				1,655,377
Caixa Seguridade Participacoes S/A			17,712				51,354
Challenger Ltd.			9,257				43,212
CNO Financial Group, Inc.			3,987				139,226
Dai-ichi Life Holdings, Inc.			2,284				65,522
DB Insurance Co. Ltd.			620				53,838
Definity Financial Corp. (a)			1,807				67,038
Employers Holdings, Inc.			3,199				153,392
Gjensidige Forsikring ASA			10,981				194,797
Helvetia Holding AG			650				102,888
Hiscox Ltd.			2,502				38,703
Horace Mann Educators Corp.			5,117				182,216
Hyundai Marine & Fire Insurance Co. Ltd.			1,260				32,824
iA Financial Corp, Inc.			2,537				194,979
Intact Financial Corp.			10,177				1,915,186
Jackson Financial, Inc. - Class A (b)			1,734				156,008
Just Group PLC			27,290				51,145
Kinsale Capital Group, Inc. (b)			91				44,689
Lancashire Holdings Ltd.			7,069				62,432
Lincoln National Corp.			4,704				150,998
MGIC Investment Corp.			3,850				97,906
Odontoprev SA			24,139				47,994
Palomar Holdings, Inc. (a)			484				48,023
Phoenix Group Holdings PLC			20,605				153,138
Prudential PLC			11,514				98,662
Reinsurance Group of America, Inc.			189				41,724
Ryan Specialty Holdings, Inc. (b)			4,087				264,143
Safety Insurance Group, Inc.			2,234				197,821
Sampo Oyj			1,232				55,107
Selective Insurance Group, Inc.			584				53,132
Steadfast Group Ltd.			19,309				84,764
Storebrand ASA			12,247				132,273
Suncorp Group Ltd.			6,431				77,102
T&D Holdings, Inc.			3,353				56,384
Talanx AG			967				83,329
The Progressive Corp.			10,617				2,677,607
Tryg A/S			2,450				54,682

	Adasina Social Justice
Schedule of Investments	All Cap Global ETF
August 31, 2024

Unipol Gruppo SpA			3,632				38,514
Willis Towers Watson PLC			5,122				1,496,187
							16,797,222
Internet - 2.3%
Auto Trader Group PLC (Acquired 12/08/2020 - 08/06/2024; Cost $88,217) (e)			10,083				112,771
CAR Group Ltd.			4,990				128,183
CDW Corp.			4,815				1,086,457
Full Truck Alliance Co. Ltd. - ADR			4,367				31,661
Grab Holdings Ltd. - Class A (a)			10,275				33,085
iQIYI, Inc. - ADR (a)			8,211				17,654
IRESS Ltd. (a)			10,614				69,711
Kuaishou Technology (Acquired 05/31/2024 - 08/06/2024; Cost $50,909) (a)(e)			7,200				37,198
Magnite, Inc. (a)			3,088				42,584
MercadoLibre, Inc. (a)			618				1,274,106
MONY Group PLC			19,898				56,015
NAVER Corp.			1,641				207,728
Perficient, Inc. (a)			519				39,013
Q2 Holdings, Inc. (a)(b)			692				51,353
Rightmove PLC			5,523				40,329
Scout24 SE (Acquired 05/31/2023 - 08/06/2024; Cost $32,728) (e)			505				38,626
SEEK Ltd.			4,859				75,992
VeriSign, Inc. (a)			5,802				1,066,988
Vitec Software Group AB			727				39,435
Wix.com Ltd. (a)			232				38,656
Z Holdings Corp.			25,532				70,088
Ziff Davis, Inc. (a)			1,045				51,069
							4,608,702
Investment Companies - 0.9%
EXOR NV			339				37,749
Groupe Bruxelles Lambert NV			22,514				1,738,230
							1,775,979
Leisure Time - 0.1%
Amadeus IT Group SA			733				49,444
BRP, Inc. - SVS			892				64,689
YETI Holdings, Inc. (a)(b)			998				40,239
							154,372
Lodging - 0.3%
Boyd Gaming Corp.			2,540				152,451
Dalata Hotel Group PLC			12,743				62,063
H World Group Ltd.			34,531				108,900
Kyoritsu Maintenance Co. Ltd.			1,831				30,180
Scandic Hotels Group AB (Acquired 05/31/2024 - 08/06/2024; Cost $92,260) (a)(e)			15,568				104,438
Whitbread PLC			4,018				152,347
							610,379
Machinery - Construction & Mining - 0.0%(c)
Vertiv Holdings Co. - Class A			384				31,884
Machinery - Diversified - 5.4%
ATS Corp. (a)			1,186				31,856
Cognex Corp.			1,666				67,273
Crane Co.			510				80,774
CSW Industrials, Inc.			209				70,565
Daifuku Co. Ltd.			3,168				61,095

Schedule of Investments

Adasina Social Justice All Cap Global ETF

August 31, 2024

Deutz AG			7,487				39,315
Esab Corp. (b)			936				98,252
FANUC Corp.			22,121				651,301
Graco, Inc.			35,898				2,992,098
Kadant, Inc. (b)			265				85,100
Kone Oyj - Class B			1,962				105,981
Nordson Corp.			8,293				2,127,652
Tennant Co.			411				40,142
The Toro Co. (b)			1,628				150,753
Watts Water Technologies, Inc. - Class A			722				142,017
WEG SA			101,432				966,266
Xylem, Inc.			21,243				2,921,550
Yaskawa Electric Corp.			8,886				294,156
							10,926,146
Media - 0.7%
Cable One, Inc. (b)			153				53,966
FactSet Research Systems, Inc. (b)			1,223				517,133
Informa PLC			5,866				64,296
ITV PLC			37,474				39,253
Liberty Global Ltd. - Class A (a)			4,460				86,301
Schibsted ASA - Class A			2,164				66,439
Scholastic Corp. (b)			3,563				113,589
Vivendi SE			47,276				530,888
							1,471,865
Metal Fabricate & Hardware - 0.6%
AZZ, Inc.			3,533				293,840
Helios Technologies, Inc.			1,118				49,404
Lindab International AB			1,899				49,511
Mueller Industries, Inc.			1,631				118,590
Proto Labs, Inc. (a)			1,910				58,408
Reliance Worldwide Corp. Ltd.			11,722				42,630
Standex International Corp.			242				43,233
VAT Group AG (Acquired 04/11/2023 - 08/06/2024; Cost $564,800) (e)			1,076				554,455
Zhejiang Sanhua Intelligent Controls Co. Ltd. - Class A			11,800				28,867
							1,238,938
Miscellaneous Manufacturers - 1.3%
Carlisle Cos., Inc.			4,771				2,021,950
China Railway Signal & Communication Corp. Ltd. - Class H (Acquired 05/31/2024 - 08/06/2024; Cost $33,256) (e)			78,777				28,480
Diploma PLC			1,236				72,514
Enpro, Inc. (b)			504				81,058
Fabrinet (a)			242				58,963
Federal Signal Corp.			1,271				120,097
Hillenbrand, Inc.			2,542				83,784
Indutrade AB			2,204				69,473
Nikon Corp.			3,658				39,179
Trelleborg AB - Class B			1,414				55,258
Volution Group PLC			9,925				73,698
							2,704,454
Office & Business Equipment - 0.1%
Ricoh Co. Ltd.			6,845				71,456
Seiko Epson Corp.			3,651				67,965
							139,421

The accompanying notes are an integral part of these financial statements.

Schedule of Investments

Adasina Social Justice All Cap Global ETF

August 31, 2024

Office Furnishings - 0.1%
Steelcase, Inc. - Class A			11,345				160,418
Packaging & Containers - 0.4%
AptarGroup, Inc.			1,554				238,057
Huhtamaki Oyj			1,410				57,841
Sealed Air Corp.			3,046				106,458
SIG Group AG			3,698				78,192
Silgan Holdings, Inc. (b)			3,202				167,369
TriMas Corp.			3,603				91,912
							739,829
Pharmaceuticals - 4.8%
Amplifon SpA			1,704				54,944
Astellas Pharma, Inc.			30,297				378,075
AstraZeneca PLC			7,847				1,368,937
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. - Class A			3,600				36,055
Bristol-Myers Squibb Co.			45,483				2,271,876
Celltrion, Inc.			267				40,574
Hikma Pharmaceuticals PLC			2,312				60,254
Imeik Technology Development Co. Ltd. - Class A			980				20,042
Jiangsu Hengrui Pharmaceuticals Co. Ltd. - Class A			5,800				36,110
Merck & Co., Inc.			37,493				4,441,046
Neurocrine Biosciences, Inc. (a)			277				35,196
Option Care Health, Inc. (a)			1,349				43,195
Organon & Co.			1,771				39,582
Otsuka Holdings Co. Ltd.			7,756				455,649
Recordati Industria Chimica e Farmaceutica SpA			1,112				65,237
Shionogi & Co. Ltd.			1,133				52,967
Sinopharm Group Co. Ltd. - Class H			12,645				29,471
Supernus Pharmaceuticals, Inc. (a)(b)			3,427				120,493
UCB SA			423				76,648
Yuhan Corp.			652				68,819
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. - Class A			1,000				29,428
							9,724,598
Private Equity - 0.9%
3i Group PLC			37,850				1,581,374
EQT AB			1,694				56,705
Intermediate Capital Group PLC			4,338				121,208
Ratos AB - Class B			9,699				32,069
							1,791,356
Real Estate - 0.4%
Anywhere Real Estate, Inc. (a)			25,169				123,076
China Merchants Shekou Industrial Zone Holdings Co. Ltd. - Class A			64,300				83,729
Direcional Engenharia SA			11,120				56,490
Greentown China Holdings Ltd.			35,153				27,851
Marcus & Millichap, Inc.			4,558				180,816
Poly Developments and Holdings Group Co. Ltd. - Class A			24,200				27,723
REA Group Ltd.			1,415				210,257
Sumitomo Realty & Development Co. Ltd.			1,802				61,447
Tokyu Fudosan Holdings Corp.			20,108				144,176
							915,565
Retail - 1.3%
Alsea SAB de CV (a)			9,158				25,221
B&M European Value Retail SA			12,391				72,468

The accompanying notes are an integral part of these financial statements.

Schedule of Investments

Adasina Social Justice All Cap Global ETF

August 31, 2024

Bermaz Auto Bhd			65,639				37,963
CP ALL PCL			248,746				444,649
El Puerto de Liverpool SAB de CV			4,985				28,918
Europris ASA (Acquired 05/31/2023 - 08/06/2024; Cost $168,493) (e)			25,323				159,700
Ferguson Enterprises, Inc.			3,879				797,949
Freshpet, Inc. (a)(b)			442				60,112
GMS, Inc. (a)			1,021				88,613
HLA Group Corp. Ltd. - Class A			39,800				33,409
Jarir Marketing Co.			21,733				74,015
MR DIY Group M Bhd (Acquired 05/31/2023 - 06/05/2024; Cost $46,235) (e)			128,490				61,235
MSC Industrial Direct Co., Inc. - Class A (b)			1,958				161,026
National Vision Holdings, Inc. (a)			3,797				40,096
Nitori Holdings Co. Ltd.			522				77,867
Pandora A/S			238				41,712
Papa John's International, Inc.			1,577				74,702
Pepkor Holdings Ltd. (Acquired 05/31/2022 - 08/06/2024; Cost $101,221) (e)			92,313				113,864
President Chain Store Corp.			10,391				91,437
Reece Ltd.			3,168				58,767
RH (a)			207				52,516
Shanghai Pharmaceuticals Holding Co. Ltd. - Class H			22,852				31,640
USS Co. Ltd.			4,857				44,665
Zensho Holdings Co. Ltd.			1,457				76,070
							2,748,614
Savings & Loans - 0.3%
Brookline Bancorp, Inc.			12,909				132,059
Capitol Federal Financial, Inc.			18,354				110,308
Northwest Bancshares, Inc.			20,634				285,781
TFS Financial Corp.			4,340				58,937
							587,085
Semiconductors - 4.3%
Ambarella, Inc. (a)			638				38,089
Amkor Technology, Inc.			1,667				54,844
ASE Technology Holding Co. Ltd.			303,926				1,458,351
ASM International NV			2,513				1,699,589
Axcelis Technologies, Inc. (a)			349				38,156
Cirrus Logic, Inc. (a)			506				73,719
Disco Corp.			3,454				1,011,968
FormFactor, Inc. (a)			693				33,798
IPG Photonics Corp. (a)			442				30,220
Kulicke & Soffa Industries, Inc.			806				35,311
Lasertec Corp.			3,576				689,633
MaxLinear, Inc. (a)			2,062				31,301
MediaTek, Inc.			21,385				828,928
Nova Ltd. (a)			269				60,135
Novatek Microelectronics Corp.			2,108				35,584
NXP Semiconductors NV			8,595				2,203,414
Power Integrations, Inc. (b)			740				49,654
Rambus, Inc. (a)			1,033				46,196
Silicon Laboratories, Inc. (a)			444				52,556
u-blox Holding AG			351				33,054
UMS Holdings Ltd.			41,473				32,454
Will Semiconductor Co., Ltd - Class A			9,900				126,442
							8,663,396
Software - 11.8%
ACI Worldwide, Inc. (a)			1,608				80,979

The accompanying notes are an integral part of these financial statements.

Schedule of Investments

Adasina Social Justice All Cap Global ETF

August 31, 2024

Adeia, Inc.			17,972				226,447
Adobe, Inc. (a)			3,928				2,256,283
Akamai Technologies, Inc. (a)(b)			3,346				340,757
Altair Engineering, Inc. - Class A (a)(b)			612				55,300
ANSYS, Inc. (a)			3,259				1,047,508
AppLovin Corp. - Class A (a)(b)			6,274				582,666
Asana, Inc. - Class A (a)			2,685				37,751
Atlassian Corp. - Class A (a)			1,201				198,886
Autodesk, Inc. (a)			4,146				1,071,326
BlackLine, Inc. (a)			1,136				56,289
Box, Inc. - Class A (a)			1,549				50,497
Broadridge Financial Solutions, Inc.			3,037				646,456
Cadence Design Systems, Inc. (a)			5,401				1,452,491
Cloudflare, Inc. - Class A (a)			2,829				232,374
CommVault Systems, Inc. (a)			363				56,410
Confluent, Inc. - Class A (a)(b)			2,001				42,461
Constellation Software Inc.			377				1,230,985
CSG Systems International, Inc.			1,388				67,346
Datadog, Inc. - Class A (a)			2,481				288,441
DocuSign, Inc. (a)			1,365				80,822
Dynatrace, Inc. (a)			4,845				245,254
Electronic Arts, Inc.			6,785				1,030,099
Evolent Health, Inc. - Class A (a)(b)			1,737				55,549
GFT Technologies SE			1,930				45,931
Gitlab, Inc. - Class A (a)			729				34,555
Guidewire Software, Inc. (a)			787				117,082
HashiCorp, Inc. - Class A (a)			1,184				40,185
HubSpot, Inc. (a)			526				262,511
Jack Henry & Associates, Inc.			2,279				394,335
Manhattan Associates, Inc. (a)			162				42,838
Monday.com Ltd. (a)(b)			155				41,213
MongoDB, Inc. (a)(b)			387				112,536
MSCI, Inc. (b)			1,899				1,102,540
Nemetschek SE			461				48,094
NetEase, Inc.			35,912				587,914
Nutanix, Inc. - Class A (a)			534				33,743
Open Text Corp.			16,068				511,219
Paychex, Inc. (b)			14,337				1,881,014
Phreesia, Inc. (a)			2,911				74,842
Privia Health Group, Inc. (a)(b)			2,200				44,308
Procore Technologies, Inc. (a)			556				32,954
Progress Software Corp. (b)			1,124				65,361
PROS Holdings, Inc. (a)			3,766				75,810
PTC, Inc. (a)(b)			4,144				742,149
Roper Technologies, Inc.			4,072				2,257,558
Sapiens International Corp NV			2,785				101,346
ServiceNow, Inc. (a)			1,840				1,573,200
Smartsheet, Inc. - Class A (a)			980				47,824
SPS Commerce, Inc. (a)			195				38,949
SS&C Technologies Holdings, Inc.			13,892				1,043,150
SUSE SA (d)			2,113				25,471
Take-Two Interactive Software, Inc. (a)			2,067				334,255
Temenos AG			625				43,535
Teradata Corp. (a)			1,199				33,860
The Descartes Systems Group, Inc. (a)			976				98,407
Twilio, Inc. - Class A (a)			1,928				121,001
Veeva Systems, Inc. - Class A (a)			2,359				510,582
WiseTech Global Ltd.			1,141				92,025

The accompanying notes are an integral part of these financial statements.

Schedule of Investments

Adasina Social Justice All Cap Global ETF

August 31, 2024

Workiva, Inc. - Class A (a)(b)			489				38,225
							24,083,899
Storage - Warehousing - 0.0%(c)
Mitsui-Soko Holdings Co. Ltd.			1,390				53,746
Telecommunications - 5.8%
America Movil SAB de CV (a)			702,777				582,413
BT Group PLC			166,199				303,614
Calix, Inc. (a)			1,147				42,714
Chunghwa Telecom Co. Ltd.			106,583				413,138
Elisa Oyj			1,633				81,739
Extreme Networks, Inc. (a)			3,412				53,739
Far EasTone Telecommunications Co. Ltd.			20,069				56,775
Intouch Holdings PCL			40,882				99,653
Juniper Networks, Inc.			71,542				2,781,553
Koninklijke KPN NV			15,491				63,324
Maxis Bhd			133,818				119,500
NEXTDC Ltd. (a)			6,191				71,200
PCCW Ltd.			163,448				92,406
Shenzhen Transsion Holdings Co. Ltd. - Class A			10,740				121,216
Singapore Telecommunications Ltd.			630,827				1,514,817
SoftBank Corp.			87,698				1,227,489
Spark New Zealand Ltd.			73,933				166,059
Swisscom AG			2,548				1,611,176
Taiwan Mobile Co. Ltd.			15,667				54,852
Tele2 AB - Class B			6,102				69,417
Telefonica SA			186,701				846,067
Telia Co AB			14,588				45,356
TIM SA			22,307				70,191
TIME dotCom Bhd			76,654				89,023
Vodacom Group Ltd.			60,177				372,958
Vodafone Group PLC			847,939				829,340
							11,779,729
Toys, Games & Hobbies - 0.0%(c)
Bandai Namco Holdings, Inc.			4,916				105,576
Transportation - 0.5%
Clarkson PLC			1,808				90,532
Kuehne + Nagel International AG			2,733				847,489
Taiwan High Speed Rail Corp.			56,328				52,648
							990,669
Water - 0.4%
Aguas Andinas SA - Class A			169,102				51,087
American States Water Co.			3,307				269,256
California Water Service Group			4,980				275,543
SJW Group			2,355				138,921
							734,807
TOTAL COMMON STOCKS (Cost $175,018,497)							202,560,555
SHORT-TERM INVESTMENTS - 6.8%
Investments Purchased with Proceeds from Securities Lending - 6.5%
Mount Vernon Liquid Assets Portfolio, LLC (f)			13,091,260				13,091,260

The accompanying notes are an integral part of these financial statements.

Schedule of Investments

Adasina Social Justice All Cap Global ETF

August 31, 2024

Money Market Funds - 0.3%
First American Government Obligations Fund - Class X, 5.22% (f)			669,079				669,079
TOTAL SHORT-TERM INVESTMENTS (Cost $13,760,339)							13,760,339
TOTAL INVESTMENTS - 106.4% (Cost $188,778,836)							216,320,894
Liabilities in Excess of Other Assets - (6.4)%							(12,929,879	)
TOTAL NET ASSETS - 100.0%				$	203,391,015

Percentages are stated as a percent of net assets.
AB - Aktiebolag ADR - American Depositary Receipt
AG - Aktiengesellschaft
ASA - Advanced Subscription Agreement
NV - Naamloze Vennootschap
PLC - Public Limited Company
SA - Sociedad Anónima
SA/NV - Societe Anonime/Naamloze Vennootschap SA de CV - Sociedad Anónima de Capital Variable
SAB de CV - Sociedad Anónima Bursátil de Capital Variable SE - Societas Europaea SpA - Sociedad por Acciones

(a)	Non-income producing security.
(b)	All or a portion of this security is on loan as of August 31, 2024. The total market value of these securities was $12,948,714 which represented 6.4% of net assets.
(c)	Represents less than 0.05% of net assets.
(d)	Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $25,471 or 0.0% of net assets as of August 31, 2024.
(e)	Security considered restricted. The total market value of these securities was $5,707,330 which represented 2.8% of net assets as of August 31, 2024.
(f)	The rate shown represents the 7-day annualized effective yield as of August 31, 2024.

The accompanying notes are an integral part of these financial statements.

Statement of Assets and Liabilities

Adasina Social Justice All Cap Global ETF

August 31, 2024

ASSETS:
Investments, at value (Note 2)		$	216,320,894
Dividends and interest receivable			302,849
Foreign currency, at value			3,211
Spot receivable			1,440
Security lending income receivable (Note 5)			1,175
Total assets			216,629,569
LIABILITIES:
Payable upon return of securities loaned (Note 5)			13,091,260
Payable to adviser (Note 4)			147,294
Total liabilities			13,238,554
NET ASSETS		$	203,391,015
NET ASSETS CONSISTS OF:
Paid-in capital		$	191,336,638
Total distributable earnings			12,054,377
Total net assets		$	203,391,015
Net assets		$	203,391,015
Shares issued and outstanding(a)			11,000,000
Net asset value per share		$	18.49
COST:
Investments, at cost		$	188,778,836
Foreign currency, at cost		$	3,243
LOANED SECURITIES:
at value (included in investments)		$	12,948,714

(a)	Unlimited shares authorized without par value.

The accompanying notes are an integral part of these financial statements.

Statement of Operations

Adasina Social Justice All Cap Global ETF

For the Year Ended August 31, 2024

INVESTMENT INCOME:
Dividend income		$	3,075,417
Less: Dividend withholding taxes			(230,637	)
Less: Issuance fees			(1,685	)
Interest income			25,972
Securities lending income (Note 5)			69,107
Total investment income			2,938,174
EXPENSES:
Investment advisory fee (Note 4)			1,452,248
Interest expense			3,493
Total expenses			1,455,741
NET INVESTMENT INCOME			1,482,433
REALIZED AND UNREALIZED GAIN/(LOSS)
Net realized gain/(loss) from:
Investments			5,213,456
Foreign currency transactions			(198,579	)
Net realized gain			5,014,877
Net change in unrealized appreciation on:
Investments			19,707,658
Foreign currency translations			2,932
Net change in unrealized appreciation			19,710,590
Net realized and unrealized gain			24,725,467
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$	26,207,900

The accompanying notes are an integral part of these financial statements.

Statements of Changes in Net Assets

Adasina Social Justice All Cap Global ETF

		Year ended August 31, 2024			Year ended August 31, 2023
OPERATIONS:
Net investment income		$	1,482,433			$	1,226,603
Net realized gain/(loss)			5,014,877				(5,927,585	)
Net change in unrealized appreciation			19,710,590				17,379,610
Net increase in net assets from operations			26,207,900				12,678,628
DISTRIBUTIONS TO SHAREHOLDERS:
Distributions to shareholders			(1,622,195	)			(1,522,501	)
Total distributions to shareholders			(1,622,195	)			(1,522,501	)
CAPITAL TRANSACTIONS:
Subscriptions			53,515,350				41,150,580
Redemptions			(16,204,300	)			(7,629,650	)
ETF transaction fees (Note 9)			834				1,654
Net increase in net assets from capital transactions			37,311,884				33,522,584
NET INCREASE IN NET ASSETS			61,897,589				44,678,711
NET ASSETS:
Beginning of the year			141,493,426				96,814,715
End of the year		$	203,391,015			$	141,493,426
SHARES TRANSACTIONS
Subscriptions			3,200,000				2,700,000
Redemptions			(1,000,000	)			(500,000	)
Total increase in shares outstanding			2,200,000				2,200,000

The accompanying notes are an integral part of these financial statements.

Financial Highlights

Adasina Social Justice All Cap Global ETF

For a share outstanding throughout the periods presented

		Year ended August 31,			Period ended
											August 31,
		2024			2023			2022			2021(a)
PER SHARE DATA:
Net asset value, beginning of year/period		$	16.08			$	14.67			$	17.82			$	15.00
INVESTMENT OPERATIONS:
Net investment income(b)			0.15				0.16				0.15				0.10
Net realized and unrealized gain (loss) on investments(c)			2.42				1.44				(3.17	)			2.79
Total from investment operations			2.57				1.60				(3.02	)			2.89
LESS DISTRIBUTIONS FROM:
From net investment income			(0.16	)			(0.19	)			(0.13	)			(0.07	)
Total distributions			(0.16	)			(0.19	)			(0.13	)			(0.07	)
ETF transaction fees per share			0.00	(d)			-				-				-
Net asset value, end of year/period		$	18.49			$	16.08			$	14.67			$	17.82
TOTAL RETURN			16.11	%			10.99	%			-17.06	%			19.24	%(g)
SUPPLEMENTAL DATA AND RATIOS:
Net assets, end of year/period (in thousands)		$	203,391			$	141,493			$	96,815			$	71,270
Ratio of expenses to average net assets			0.89	%			0.89	%			0.89	%			0.89	%(e)
Ratio of net investment income to average net assets			0.91	%			1.02	%			0.93	%			0.80	%(e)
Portfolio turnover rate(f)			82	%			108	%			85	%			81	%(g)

(a)	Inception date of the Fund was December 8, 2020.
(b)	Net investment income per share has been calculated based on average shares outstanding during the year/period.
(c)	Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the years, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the year.
(d)	Amount represents less than $0.005 per share.
(e)	Annualized for periods less than one year.
(f) (g)	Portfolio turnover rate excludes in-kind transactions. Not annualized for periods less than one year.

The accompanying notes are an integral part of these financial statements.

Notes to the Financial Statements	Adasina Social Justice All Cap Global ETF
August 31, 2024

NOTE 1 - ORGANIZATION

The Adasina Social Justice All Cap Global ETF (the "Fund") is a diversified series of shares of beneficial interest of Tidal ETF Trust (the "Trust"). The Trust was organized as a Delaware statutory trust on June 4, 2018 and is registered with the Securities and Exchange Commission (the "SEC") under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company and the offering of the Fund's shares is registered under the Securities Act of 1933, as amended. The Trust is governed by its Board of Trustees (the "Board"). Tidal Investments LLC ("Tidal Investments" or the "Adviser"), a Tidal Financial Group company, serves as investment adviser to the Fund and Robasciotti & Associates, Inc., doing business as Adasina Social Capital (the "Sub-Adviser") serves as investment sub-adviser to the Fund. The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946 "Financial Services-Investment Companies." The Fund commenced operations on December 8, 2020.

The investment objective of the Fund is to seek capital appreciation and income.

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies consistently followed by the Fund. These policies are in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP").

A.

Security Valuation. Equity securities that are listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on the NASDAQ Stock Market, LLC ("NASDAQ")), including securities traded over the counter, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded on the valuation date (or at approximately 4:00 p.m. EST if a security's primary exchange is normally open at that time), or, if there is no such reported sale on the valuation date, at the most recent quoted bid price or mean between the most recent quoted bid and ask prices for long and short positions. For a security that trades on multiple exchanges, the primary exchange will generally be considered the exchange on which the security is generally most actively traded. For securities traded on NASDAQ, the NASDAQ Official Closing Price will be used. Prices of securities traded on the securities exchange will be obtained from recognized independent pricing agents ("Independent Pricing Agents") each day that the Fund is open for business.

Units of Mount Vernon Liquid Assets Portfolio, LLC are not traded on an exchange and are measured at fair value using the investment company's net asset value per share (or its equivalent) practical expedient as provided by the underlying fund's administrator.

Under Rule 2a-5 of the 1940 Act, a fair value policy will be determined for securities for which quotations are not readily available by the Valuation Designee (as defined in Rule 2a-5) in accordance with the Pricing and Valuation Policy and Fair Value Procedures, as applicable, of the Adviser, subject to oversight by the Board. When a security is "fair valued," consideration is given to the facts and circumstances relevant to the particular situation, including a review of various factors set forth in the Adviser's Pricing and Valuation Policy and Fair Value Procedures, as applicable. Fair value pricing is an inherently subjective process, and no single standard exists for determining fair value. Different funds could reasonably arrive at different values for the same security. The use of fair value pricing by a fund may cause the net asset value ("NAV") of its shares to differ significantly from the NAV that would be calculated without regard to such considerations.

As described above, the Fund utilizes various methods to measure the fair value of its investments on a recurring basis. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability and would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

Notes to the Financial Statements	Adasina Social Justice All Cap Global ETF
August 31, 2024

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

The following is a summary of the inputs used to value the Fund's investments as of August 31, 2024:

Investments in Securities		Level 1			Level 2			Level 3			Total
Common Stocks (a)		$	202,535,084			$	-			$	25,471			$	202,560,555
Investments Purchased With Collateral
From Securities Lending (b)			-				-				-				13,091,260
Short-Term Investments			669,079				-				-				669,079
Total Investments in Securities		$	203,204,163			$	-			$	25,471			$	216,320,894

		Common Stocks
Balance as of August 31, 2023		$	0
Accrued discounts/premiums			-
Realized gain (loss)			-
Change in unrealized appreciation/depreciation			(9,156	)
Purchases			2,510
Sales			-
Corporate Actions			-
Transfer into and/or out of Level 3			32,117
Balance as of August 31, 2024		$	25,471
Change in unrealized appreciation/depreciation during the period for Level 3 investments held at August 31, 2024		$	(9,156	)

^(a) See Schedule of Investments for the industry breakout.

^(b) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments.

B.

Federal Income Taxes. The Fund has elected to be taxed as a "regulated investment company" and intends to distribute substantially all taxable income to its shareholders and otherwise comply with the provisions of the Internal Revenue Code applicable to regulated investment companies. Therefore, no provision for federal income taxes or excise taxes has been made.

In order to avoid imposition of the excise tax applicable to regulated investment companies, the Fund intends to declare as dividends in each calendar year at least 98.0% of its net investment income (earned during the calendar year) and at least 98.2% of its net realized capital gains (earned during the twelve months ended October 31) plus undistributed amounts, if any, from prior years. As a registered investment company, the Fund is subject to a 4% excise tax that is imposed if the Fund does not distribute by the end of any calendar year at least the sum of (i) 98% of its ordinary income (not taking into account any capital gain or loss) for the calendar year and (ii) 98.2% of its capital gain in excess of its capital loss (adjusted for certain ordinary losses) for a one year period generally ending on October 31 of the calendar year (unless an election is made to use the fund's fiscal year). The Fund generally intends to distribute income and capital gains in the manner necessary to minimize (but not necessarily eliminate) the imposition of such excise tax. The Fund may retain income or capital gains and pay excise tax when it is determined that doing so is in the best interest of shareholders. Management, in consultation with the Board of Trustees, evaluates the costs of the excise tax relative to the benefits of retaining income and capital gains, including that such undistributed amounts (net of the excise tax paid) remain available for investment by the Fund and are available to supplement future distributions. Tax expense is disclosed in the Statement of Operations, if applicable.

Notes to the Financial Statements	Adasina Social Justice All Cap Global ETF
August 31, 2024

As of August 31, 2024, the Fund did not have any tax positions that did not meet the threshold of being sustained by the applicable tax authority. Generally, tax authorities can examine all the tax returns filed for the last three years. The Fund identifies its major tax jurisdiction as U.S. Federal and the Commonwealth of Delaware; however, the Fund is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially.

C.

Securities Transactions and Investment Income. Investment securities transactions are accounted for on the trade date. Gains and losses realized on sales of securities are determined on a specific identification basis. Discounts/premiums on debt securities purchased are accreted/amortized over the life of the respective securities using the effective interest method. Dividend income is recorded on the ex-dividend date. Debt income is recorded on an accrual basis. Other non-cash dividends are recognized as investment income at the fair value of the property received. Withholding taxes on foreign dividends have been provided for in accordance with the Fund's understanding of the applicable country's tax rules and rates.

D.

Foreign Currency. Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions.

The Fund does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss from investments.

The Fund reports net realized foreign exchange gains or losses that arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at period end, resulting from changes in exchange rates.

E.

Distributions to Shareholders. Distributions to shareholders from net investment income, if any, for the Fund are declared and paid semi-annually. Distributions to shareholders from net realized gains on securities, if any, for the Fund normally are declared and paid on an annual basis. Distributions are recorded on the ex-dividend date.

F.

Use of Estimates. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. Actual results could differ from those estimates.

G.

Share Valuation. The NAV per share of the Fund is calculated by dividing the sum of the value of the securities held by the Fund, plus cash or other assets, minus all liabilities by the total number of shares outstanding for the Fund, rounded to the nearest cent. The Fund's shares will not be priced on the days on which the New York Stock Exchange ("NYSE") is closed for trading.

H.

Guarantees and Indemnifications. In the normal course of business, the Fund enters into contracts with service providers that contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote.

I.

Illiquid Investments. Pursuant to Rule 22e-4 under the 1940 Act, the Fund has adopted a Board-approved Liquidity Risk Management Program (the "Program") that requires, among other things, that the Fund limit its illiquid investments that are assets to no more than 15% of the value of the Fund's net assets. An illiquid investment is any security that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If the Fund should be in a position where the value of illiquid investments held by the Fund exceeds 15% of the Fund's net assets, the Fund will take such steps as set forth in the Program.

J.

Recently Issued Accounting Pronouncements. In June 2022, FASB issued Accounting Standards Update 2022-03, which amends Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions ("ASU 2022-03"). ASU 2022-03 clarifies guidance for fair value measurement of an equity security subject to a contractual sale restriction and establishes new disclosure requirements for such equity securities. ASU 2022-03 is effective for fiscal years beginning after December15, 2023 and for interim periods within those fiscal years, with early adoption permitted. The Fund is currently evaluating the impact, if any, of these amendments on the financial statements.

Notes to the Financial Statements	Adasina Social Justice All Cap Global ETF
August 31, 2024

K.

Reclassification of Capital Accounts. U.S. GAAP requires that certain components of net assets relating to permanent differences be reclassified between financial and tax reporting. These reclassifications are primarily due to adjustments for redemptions in-kind. These reclassifications have no effect on net assets or NAV per share. For the year ended August 31, 2024, the following reclassification adjustments were made:

Paid-In Capital			Total Distributable Earnings
$	4,378,839			$	(4,378,839	)

During the year ended August 31, 2024, the Fund realized $4,593,741 in net capital gains resulting from in-kind redemptions, in which Authorized Participants exchanged Fund shares for securities held by the Fund rather than for cash. Because such gains are not taxable to the Fund, and are not distributed to shareholders, they have been reclassified from total distributable earnings to paid-in capital.

NOTE 3 - PRINCIPAL INVESTMENT RISKS

A.

Emerging and Developing Markets Risk. The Fund may invest in securities issued by companies domiciled or headquartered in emerging and developing market nations. Investments in securities traded in emerging and developing markets, or that provide exposure to such securities or markets, can involve additional risks relating to political, economic, currency, or regulatory conditions not necessarily associated with investments in U.S. securities and in more developed international markets. Such conditions may impact the ability of the Fund to buy, sell, or otherwise transfer securities, adversely affect the trading market and price for Shares and cause the Fund to decline in value.

B.

Foreign Securities Risk. Investments in securities or other instruments of non-U.S. issuers, including depositary receipts, such as ADRs, involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S. companies. Financial markets in foreign countries often are not as developed, efficient, or liquid as financial markets in the United States, and therefore, the prices of non-U.S. securities and instruments, including ADRs, can be more volatile. In addition, the Fund will be subject to risks associated with adverse political and economic developments in foreign countries, which may include the imposition of economic sanctions. Generally, there is less readily available and reliable information about non-U.S. issuers due to less rigorous disclosure or accounting standards and regulatory practices.

C.

Equity Market Risk. The equity securities held in the Fund's portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. This may occur because of factors that affect securities markets generally or factors affecting specific issuers, industries, or sectors in which the Fund invests. The Fund will invest in common stocks directly. Common stocks are generally exposed to greater risk than other types of securities, such as preferred stock and debt obligations, because common stockholders generally have inferior rights to receive payment from specific issuers.

D.

Sector Risk. At times the Fund may increase the relative emphasis of its investments in a particular sector or group of industries. The prices of securities of issuers in a particular sector may be more susceptible to fluctuations due to changes in economic or business conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than securities of issuers in other industries and sectors. To the extent that the Fund increases the relative emphasis of its investments in a particular industry or sector, the value of Shares may fluctuate in response to events affecting that industry or sector.

E.

Style Risk. Applying Racial, Gender, Economic, and Climate Justice as well as Movement Aligned criteria to the Fund's investment selection process may exclude securities of certain issuers for non-financial reasons and therefore, the Fund may underperform the broader equity market or other funds that do not utilize similar criteria when selecting investments.

F.	Index Risk. The Adasina Social Justice Index (the "Index") may not reflect all companies meeting the Index's eligibility criteria if certain company characteristics are not known at the time the Index is composed or reconstituted.

G.	Management Risk. The Fund is actively-managed and may not meet its investment objectives based on Adasina's success or failure to implement investment strategies for the Fund.

Notes to the Financial Statements	Adasina Social Justice All Cap Global ETF
August 31, 2024

H.

ETF Risks.

●

Authorized Participants, Market Makers, and Liquidity Providers Concentration Risk. The Fund has a limited number of financial institutions that are authorized to purchase and redeem Shares directly from the Fund (known as "Authorized Participants" or "APs"). In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace. To the extent either of the following events occurs, Shares may trade at a material discount to NAV and possibly face delisting: (i) APs exit the business or otherwise become unable to process creation and/or redemption orders and no other APs step forward to perform these services; or (ii) market makers and/or liquidity providers exit the business or significantly reduce their business activities and no other entities step forward to perform their functions.

●

Costs of Buying or Selling Shares. Due to the costs of buying or selling Shares, including brokerage commissions imposed by brokers and bid-ask spreads, frequent trading of Shares may significantly reduce investment results. An investment in Shares may not be advisable for investors who anticipate regularly making small investments.

●

Shares May Trade at Prices Other Than NAV. As with all ETFs, Shares may be bought and sold in the secondary market at market prices. Although it is expected that the market price of Shares will approximate the Fund's NAV, there may be times when the market price of Shares is more than the NAV intra-day (premium) or less than the NAV intra-day (discount) due to supply and demand of Shares or during periods of market volatility. This risk is heightened in times of market volatility, periods of steep market declines, and periods when there is limited trading activity for Shares in the secondary market, in which case such premiums or discounts may be significant. Because securities held by the Fund may trade on foreign exchanges that are closed when the Fund's primary listing exchange is open, the Fund is likely to experience premiums and discounts greater than those of ETFs holding only domestic securities.

●

Trading. Although Shares are listed on a national securities exchange, such as NYSE Arca, Inc. (the "Exchange"), and may be traded on U.S. exchanges other than the Exchange, there can be no assurance that Shares will trade with any volume, or at all, on any stock exchange. In stressed market conditions, the liquidity of Shares may begin to mirror the liquidity of the Fund's underlying portfolio holdings, which can be significantly less liquid than Shares. Also, in stressed market conditions, the market for Shares may become less liquid in response to deteriorating liquidity in the markets for the Fund's underlying portfolio holdings. These adverse effects on liquidity for Shares, in turn, could lead to wider bid/ask spreads and differences between the market price of Shares and the underlying value of those Shares.

I.

General Market Risk. Economies and financial markets worldwide are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund's portfolio may underperform in comparison to securities in the general financial markets, a particular financial market, or other asset classes, due to several factors, including inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters or events, pandemic diseases, terrorism, regulatory events, and government controls.

J.

High Portfolio Turnover Risk. The Fund may actively trade all or a significant portion of the securities in its portfolio. A high portfolio turnover rate increases transaction costs, which may increase the Fund's expenses and may offset the level of capital appreciation attained by the Fund's portfolio holdings thereby reducing investment returns. Frequent trading may also cause adverse tax consequences for investors in the Fund due to an increase in short-term capital gains.

K.	Market Capitalization Risk.

●

Large-Capitalization Investing. The securities of large-capitalization companies may be relatively mature compared to smaller companies and, therefore subject to slower growth during economic expansion. Large-capitalization companies may also be unable to respond quickly to new competitive challenges, such as evolving technology and changing consumer tastes.

●

Mid-Capitalization Investing. The securities of mid-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large-capitalization companies. The securities of mid-capitalization companies generally trade in lower volumes and are subject to greater and more unpredictable price changes than large-capitalization stocks or the stock market as a whole.

●

Small-Capitalization Investing. The securities of small-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large- or mid-capitalization companies. The securities of small-capitalization companies generally trade in lower volumes and are subject to greater and more unpredictable price changes than large- or mid-capitalization stocks or the stock market as a whole. There is typically less publicly available information concerning smaller-capitalization companies than for larger, more established companies.

Notes to the Financial Statements	Adasina Social Justice All Cap Global ETF
August 31, 2024

L.

Third Party Data Risk. The composition of the Index, and consequently the Fund's portfolio, is heavily dependent on information and data calculated and published by independent third parties ("Third Party Data"). Third Party Data is carefully compiled from sources determined by Adasina to be reliable and is valid at the time it is obtained, but Adasina cannot guarantee the accuracy of any third-party information. When Third Party Data proves to be incorrect or incomplete, any decisions made in reliance thereon may lead to the inclusion or exclusion of securities from the Index that would have been excluded or included had the Third Party Data been correct and complete. If the composition of the Index reflects such errors, the Fund's portfolio can also be expected to reflect the errors.

NOTE 4 - COMMITMENTS AND OTHER RELATED PARTY TRANSACTIONS

The Adviser serves as investment adviser to the Fund pursuant to an investment advisory agreement between the Adviser and the Trust, on behalf of the Fund (the "Advisory Agreement"), and, pursuant to the Advisory Agreement, provides investment advice to the Fund and oversees the day-to-day operations of the Fund, subject to the direction and oversight of the Board. The Adviser is also responsible for trading portfolio securities for the Fund, including selecting broker-dealers to execute purchase and sale transactions. The Adviser provides oversight of the Sub-Adviser and review of the Sub-Adviser's performance.

Pursuant to the Advisory Agreement, the Fund pays the Adviser a unitary management fee (the "Investment Advisory Fee") based on the average daily net assets of the Fund at the annualized rate of 0.89%. Out of the Investment Advisory Fee, the Adviser is obligated to pay or arrange for the payment of substantially all expenses of the Fund, including the cost of sub-advisory, transfer agency, custody, fund administration, and all other related services necessary for the Fund to operate. Under the Advisory Agreement, the Adviser has agreed to pay, or require the Sub-Adviser to pay, all expenses incurred by the Fund except for interest charges on any borrowings, dividends and other expenses on securities sold short, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, distribution fees and expenses paid by the Fund under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act (collectively, "Excluded Expenses"), and the Investment Advisory Fee payable for the Adviser. The Investment Advisory Fees incurred are paid monthly to the Adviser. Investment Advisory Fees for the year ended August 31, 2024 are disclosed in the Statement of Operations.

The Sub-Adviser serves as investment sub-adviser to the Fund, pursuant to a sub-advisory agreement between the Adviser and the Sub-Adviser with respect to the Fund (the "Sub-Advisory Agreement"). Pursuant to the Sub-Advisory Agreement, the Sub-Adviser is responsible for the day-to-day management of the Fund's portfolio, including determining the securities purchased and sold by the Fund, subject to the supervision of the Adviser and the Board. The Sub-Adviser is paid a fee by the Adviser, which is calculated and paid monthly, at an annual rate of 0.02% of the Fund's average daily net assets. The Sub-Adviser has agreed to assume the Adviser's obligation to pay all expenses incurred by the Fund, except for Excluded Expenses. For assuming the payment obligation, the Adviser has agreed to pay to the Sub-Adviser the profits, if any, generated by the Fund's Investment Advisory Fee, less a contractual fee retained by the Adviser. Expenses incurred by the Fund and paid by the Sub-Adviser include fees charged by Tidal (defined below), which is an affiliate of the Adviser.

Tidal ETF Services LLC ("Tidal"), a Tidal Financial Group company, and an affiliate of the Adviser, serves as the Fund's administrator and, in that capacity, performs various administrative and management services for the Fund. Tidal coordinates the payment of Fund-related expenses and manages the Trust's relationships with its various service providers.

U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services ("Fund Services"), serves as the Fund's sub - administrator, fund accountant and transfer agent. In those capacities Fund Services performs various administrative and accounting services for the Fund. Fund Services prepares various federal and state regulatory filings, reports and returns for the Fund, including regulatory compliance monitoring and financial reporting; prepares reports and materials to be supplied to the Board; and monitors the activities of the Fund's custodian. U.S. Bank N.A. (the "Custodian"), an affiliate of Fund Services, serves as the Fund's custodian. The Custodian acts as the securities lending agent (the "Securities Lending Agent") for the Fund.

Foreside Fund Services, LLC (the "Distributor") acts as the Fund's principal underwriter in a continuous public offering of the Fund's shares.

Certain officers and a trustee of the Trust are affiliated with the Adviser. Neither the affiliated trustee nor the Trust's officers receive compensation from the Fund.

NOTE 5 - SECURITIES LENDING

The Fund may lend up to 33 1/3% of the value of the securities in its portfolio to brokers, dealers and financial institutions (but not individuals) under terms of participation in a securities lending program administered by the Securities Lending Agent. The securities lending agreement requires that loans are collateralized at all times in an amount equal to at least the market value of the securities loaned by the Fund. The Fund receives compensation in the form of fees and earned interest on the cash collateral. Due to timing issues of when a security is recalled from loan, the financial statements may differ in presentation. The amount of fees depends on a number of factors including the type of security and length of the loan. The Fund continues to receive interest payments or dividends on the securities loaned during the borrowing period. Gain or loss in the value of securities loaned that may occur during the term of the loan will be for the account of the Fund. The Fund has the right under the terms of the securities lending agreements to recall the securities from the borrower on demand.

Notes to the Financial Statements	Adasina Social Justice All Cap Global ETF
August 31, 2024

As of August 31, 2024, market value of the securities on loan and payable on collateral received for securities lending were as follows:

Market Value of Securities on Loan			Payable on Collateral Received			Percentage of Net Assets of Securities on Loan
$	12,948,714			$	13,091,260				6.4	%

The cash collateral is invested in the Mount Vernon Liquid Assets Portfolio, LLC, of which the investment objective is to seek to maximize income to the extent consistent with the preservation of capital and liquidity and maintain a stable NAV of $1.00. Although risk is mitigated by the collateral, the Fund could experience a delay in recovering its securities and possible loss of income or value if the borrower fails to return the borrowed securities. In addition, the Fund bears the risk of loss associated with the investment of cash collateral received.

During the year ended August 31, 2024, the Fund loaned securities that were collateralized by cash. The cash collateral received was invested in the Mount Vernon Liquid Assets Portfolio, LLC as listed in the Fund's Schedule of Investments. Securities lending income is disclosed in the Fund's Statement of Operations.

The Fund is not subject to a master netting agreement with respect to the Fund's participation in securities lending; therefore, no additional disclosures regarding netting arrangements are required.

NOTE 6 - PURCHASES AND SALES OF SECURITIES

For the year ended August 31, 2024, the cost of purchases and proceeds from the sales or maturities of securities, excluding short-term investments, in-kind transactions and U.S. government securities were $138,214,583 and $134,024,891, respectively.

For the year ended August 31, 2024, there were no purchases or sales of long-term U.S. government securities.

For the year ended August 31, 2024, in-kind transactions associated with creations and redemptions for the Fund were $48,722,991 and $16,243,064, respectively.

NOTE 7 - INCOME TAXES AND DISTRIBUTIONS TO SHAREHOLDERS

The tax character of distributions paid during the fiscal years ended August 31, 2024 and August 31, 2023 were as follows:

Distributions paid from:		August 31, 2024			August 31, 2023
Ordinary income		$	1,622,195			$	1,522,501

As of the fiscal year ended August 31, 2024, the components of distributable earnings on a tax basis were as follows:

Investments, at cost (a)		$	190,239,836
Gross tax unrealized appreciation			30,829,540
Gross tax unrealized depreciation			(4,745,016	)
Net tax unrealized appreciation (depreciation)			26,084,524
Undistributed ordinary income (loss)			684,205
Undistributed long-term capital gain (loss)			-
Total distributable earnings			684,205
Other accumulated gain (loss)			(14,714,352	)
Total distributable earnings		$	12,054,377

^(a) The differences between book and tax-basis unrealized appreciation was attributable primarily to the treatment of wash sales and PFIC mark to market adjustments.

Notes to the Financial Statements	Adasina Social Justice All Cap Global ETF
August 31, 2024

Net capital losses incurred after October 31 (post-October losses) and net investment losses incurred after December 31 (late-year losses), and within the taxable year, may be elected to be deferred to the first business day of the Fund's next taxable year. As of the most recent fiscal year ended August 31, 2024, the Fund had not elected to defer any post-October or late year losses. As of the most recent fiscal year ended August 31, 2024, the Fund had long-term and short-term capital loss carryovers of $(5,408,251) and $(9,306,101), respectively, which do not expire.

NOTE 8 - CREDIT FACILITY

U.S. Bank N.A. has made available to the Fund a credit facility pursuant to a Loan Agreement for temporary or extraordinary purposes. Credit facility details for the year ended August 31, 2024, are as follows for the Fund:

Maximum available credit		$	50,000,000
Largest amount outstanding on an individual day			14,794,000
Average daily loan outstanding when in use			14,794,000
Credit facility outstanding as of August 31, 2024			-
Average interest rate, when in use			8.50	%
Interest rate terms			Prime
Interest rate as of August 31, 2024			8.50	%
Expiration date			June 25, 2025

Interest expense incurred for the year ended August 31, 2024 is disclosed in the Statement of Operations, if applicable. The credit facility is an uncommitted, senior secured 364-day umbrella line of credit used for the benefit of certain funds in the Trust.

The maximum available credit is disclosed at the Trust level. The Fund's ability to borrow is therefore limited by borrowings of other funds within the Trust which are party to the agreement and to one-third of the Fund's total assets.

NOTE 9 - SHARE TRANSACTIONS

Shares of the Fund are listed and traded on the Exchange. Market prices for the shares may be different from their NAV. The Fund issues and redeems shares on a continuous basis at NAV generally in large blocks of shares, called "Creation Units." Creation Units are issued and redeemed principally in-kind for securities included in a specified universe. Once created, shares generally trade in the secondary market at market prices that change throughout the day. Except when aggregated in Creation Units, shares are not redeemable securities of the Fund. Creation Units may only be purchased or redeemed by Authorized Participants. An Authorized Participant is either (i) a broker-dealer or other participant in the clearing process through the Continuous Net Settlement System of the National Securities Clearing Corporation or (ii) a Depository Trust Company participant and, in each case, must have executed a Participant Agreement with the Distributor. Most retail investors do not qualify as Authorized Participants nor have the resources to buy and sell whole Creation Units. Therefore, they are unable to purchase or redeem the shares directly from the Fund. Rather, most retail investors may purchase shares in the secondary market with the assistance of a broker and are subject to customary brokerage commissions or fees.

The Fund currently offers one class of shares, which has no front-end sales load, no deferred sales charge, and no redemption fee. A fixed transaction fee is imposed for the transfer and other transaction costs associated with the purchase or sale of Creation Units. The standard fixed transaction fee for the Fund is $7,000, payable to the Custodian. The fixed transaction fee may be waived on certain orders if the Fund's Custodian has determined to waive some or all of the costs associated with the order or another party, such as the Adviser, has agreed to pay such fee. In addition, a variable fee may be charged on all cash transactions or substitutes for Creation Units of up to a maximum of 3% and for Redemption Units of up to a maximum of 2%, of the value of the Creation Units and Redemption Units subject to the transaction. Variable fees received by the Fund, if any, are disclosed in the capital shares transactions section of the Statements of Changes in Net Assets. The Fund may issue an unlimited number of shares of beneficial interest, with no par value. All shares of the Fund have equal rights and privileges.

Notes to the Financial Statements	Adasina Social Justice All Cap Global ETF
August 31, 2024

NOTE 10 - RECENT MARKET EVENTS

U.S. and international markets have experienced and may continue to experience significant periods of volatility in recent years and months due to a number of economic, political and global macro factors including rising inflation, uncertainty regarding central banks' interest rates, the possibility of a national or global recession, trade tensions, political events, the war between Russia and Ukraine, significant conflict between Israel and Hamas in the Middle East, and the impact of COVID-19. The global recovery from COVID-19 may last for an extended period of time. As a result of continuing political tensions and armed conflicts, including the war between Ukraine and Russia, the U.S. and the European Union imposed sanctions on certain Russian individuals and companies, including certain financial institutions, and have limited certain exports and imports to and from Russia. The war has contributed to recent market volatility and may continue to do so. The Middle East conflict has led to significant loss of life, damaged infrastructure and escalated tensions both in the region and globally. These developments, as well as other events, could result in further market volatility and negatively affect financial asset prices, the liquidity of certain securities and the normal operations of securities exchanges and other markets, despite government efforts to address market disruptions. As a result, the risk environment remains elevated.

NOTE 11 - SUBSEQUENT EVENTS

In preparing these financial statements, management has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued. Management has determined that there are no subsequent events that would need to be disclosed in the Fund's financial statements.

Report of Independent Registered Public Accounting Firm	Adasina Social Justice All Cap Global ETF
August 31, 2024

To the Shareholders of

Adasina Social Justice All Cap Global ETF and

The Board of Trustees of

Tidal ETF Trust

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities of Adasina Social Justice All Cap Global ETF (the "Fund"), a series of Tidal ETF Trust (the "Trust"), including the schedule of investments, as of August 31, 2024, the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years then ended and the financial highlights for each of the three years then ended and for the period December 8, 2020 (commencement of operations) to August 31, 2021, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2024, the results of its operations for the year then ended, the changes in its net assets for each of the two years then ended and the financial highlights for each of the three years then ended and the period December 8, 2020 to August 31, 2021, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We have served as the auditor of one or more of the funds in the Trust since 2018.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2024, by correspondence with the custodian. We believe that our audits provide a reasonable basis for our opinion.

	TAIT, WELLER & BAKER LLP

Philadelphia, Pennsylvania

October 29, 2024

Other Non-Audited Information	Adasina Social Justice All Cap Global ETF
August 31, 2024

QUALIFIED DIVIDEND INCOME/DIVIDENDS RECEIVED DEDUCTION

For the year ended August 31, 2024, certain dividends paid by the Fund may be subject to a maximum tax rate of 23.8%, as provided for by the Jobs and Growth Tax Relief Reconciliation Act of 2003 and the Tax Cuts and Jobs Act of 2017. The percentage of dividends declared from ordinary income designated as qualified dividend income was as follows:

Adasina Social Justice All Cap Global ETF

100.00

%

For corporate shareholders, the percent of ordinary income distributions qualifying for the corporate dividends received deduction for the year ended August 31, 2024, was as follows:

Adasina Social Justice All Cap Global ETF

56.06

%

The percentage of taxable ordinary income distributions that are designated as short-term capital gain distribution under Internal Revenue Section 871(k)(2)(c) for the year ended August 31, 2024, was as follows:

Adasina Social Justice All Cap Global ETF

0.00

%

(b)	Financial Highlights are included within the financial statements filed under Item 7(a) of this Form.

Item 8. Changes in and Disagreements with Accountants for Open-End Investment Companies.

There have been no changes in or disagreements with the Funds' accountants.

Item 9. Proxy Disclosure for Open-End Investment Companies.

There were no matters submitted to a vote of shareholders during the period covered by the report.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.

See Item 7(a). Under the Investment Advisory Agreement, in exchange for a single unitary management fee from each Fund, the Adviser has agreed to pay all expenses incurred by the Fund, including Trustee compensation, except for certain excluded expenses.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

Not applicable.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable to open-end investment companies.

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable to open-end investment companies.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable to open-end investment companies.

Item 15. Submission of Matters to a Vote of Security Holders.

Not Applicable.

Item 16. Controls and Procedures.

(a)

The Registrant's President/Principal Executive Officer and Treasurer/Principal Financial Officer have reviewed the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act")) as of a date within 90 days of the filing of this report, as required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934. Based on their review, such officers have concluded that the disclosure controls and procedures are effective in ensuring that information required to be disclosed in this report is appropriately recorded, processed, summarized and reported and made known to them by others within the Registrant and by the Registrant's service provider.

(b)

There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable to open-end investment companies.

Item 18. Recovery of Erroneously Awarded Compensation.

(a) Not Applicable

(b) Not Applicable

Item 19. Exhibits.

(a)	(1) Any code of ethics or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy Item 2 requirements through filing an exhibit. Filed herewith.

(2) Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant's securities are listed. Not applicable.

(3) A separate certification for each principal executive officer and principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. Filed herewith.

(4) Any written solicitation to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable.

(5) Change in the registrant's independent public accountant. Provide the information called for by Item 4 of Form 8-K under the Exchange Act (17 CFR 249.308). Unless otherwise specified by Item 4, or related to and necessary for a complete understanding of information not previously disclosed, the information should relate to events occurring during the reporting period. Not applicable.

(b)	Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. Furnished herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)

Tidal ETF Trust

	By (Signature and Title)*	/s/ Eric W. Falkeis
		Eric W. Falkeis, President/Principal Executive Officer

Date

November 7, 2024

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

	By (Signature and Title)*	/s/ Eric W. Falkeis
		Eric W. Falkeis, President/Principal Executive Officer

Date

November 7, 2024

	By (Signature and Title)*	/s/ Aaron J. Perkovich
		Aaron J. Perkovich, Treasurer/Principal Financial Officer

Date

November 8, 2024

* Print the name and title of each signing officer under his or her signature.