Notification of Reverse Split of BCH*(-3) of ETP product
Since the net value of BCH*(-3) leveraged ETP product is lower than 1 USDT, in order to facilitate user’s trading and avoid the impact of precision, Huobi Global will execute a reverse split of BCH*(-3) on Apri 28, 2020, at 07:00 (UTC) and the operation will not affect the total value of users‘ assets. The reverse split will take about 3 hours. During this period, BCH*(-3) will also suspend trading at the same time.
Note: The specific execution time will be adjusted according to the market conditions of BCH. In order to reduce the risk of market fluctuations during the merger period, if the leverage of BCH*(-3) is too high before the start of the share merger, a temporary position adjustment will be triggered.
In order to improve the experience of K-line(Candle),the historical K-line before the reverse split will be hidden,and the starting point of the K-line is the time point after the reverse split is completed.
The Reverse Split Ratio will be 1 for 10000, which means 10000 shares of BCH*(-3) will be merged into 1 share, consequently, the NAV of BCH*(-3) per share will be up 10000 times and user's holding quantity will be down to 1/10000. In this connection, user’s total asset value of the BCH*(-3) assets will not change (Total asset value = the number of ETP positions * NAV of ETP).
Time of Reverse Split:
4/28/2021 07:00 -4/28/2021 10:00 (UTC)
Scope of Influence:
After the merger, users will not be able to buy, sell ,subscribe or redeem BCH*(-3)
Since users will not be able to trade, subscribe or redeem BCH*(-3) during the reverse split, users can sell out or redeem BCH*(-3) before reverse split to reduce the risk of position.
There is a possibility that the NAV of ETP can become zero or the product will be removed due to inherent market risks, high fees, slippage, rebalance algorithm frontrunning and any other perceived unknown risks associated with ETP.
Thanks for your support!
April 27, 2021