Dear Valued Users,
Considering the relatively low net value of XRP*(-3), Huobi Global will execute a reverse split for XRP*(-3) on Aug. 13, 2020 at 07:00 (UTC) to facilitate users' trading and avoid negative impact from precision issues. The reverse split is expected to last 3 hours, during which services including trading, subscription and redemption will be suspended.
The time for the reverse split might be adjusted based on the market movement. To mitigate market volatility risks during execution, a temporary position adjustment will be triggered if the leverage of XRP*(-3) is too high before the reverse split starts.
To enhance user experience, the K-line (candle chart) before the reverse split will be hidden and the time when the execution is completed will be its starting point.
The Reverse Split will be undertaken in a ratio of 10,000,000,000:1, which means 10,000,000,000 shares of XRP*(-3) will be merged into 1 share. Consequently, the NAV of XRP*(-3) per share will be 1,000 times than before, and users’ XRP*(-3) holding will be down to the previous 1/10000000000, while the value of total assets will be unchanged (total asset value = ETP holdings * ETP net value)
- As trading, subscription, and redemption services for XRP (-3), as well as the dynamic position adjustment, will be disabled during the reverse split, users are recommended to sell or redeem XRP*(-3) before the reverse split to reduce price risks.
- There is a possibility that the NAV of ETP can become zero or the product will be removed due to inherent market risk, high fees, slippage, rebalance algorithm frontrunning, and any other perceived unknown risks associated with ETP.
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Huobi Global reserves the right in its sole discretion to amend, revise or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and Huobi Global makes no recommendations or guarantees in respect of any digital asset, product, or promotion on Huobi Global. Prices of digital assets are highly volatile and trading digital assets is risky. Please read our Risk Remindertext here.