Hotbit Will Merge the Shares of Leveraged ETF Products BICO1D5L and KNC1D3L on November 22nd, 2022

Dear respected users，

Since the net value of leveraged ETF products BICO1D5L and KNC1D3L are lower than 0.1 USDT, which triggers the Share Merging Mechanism. As such, Hotbit will merge the shares of BICO1D5L and KNC1D3L at 07:45 AM on November 22nd, 2022.

Because the price will increase by 10X after the merger, the number of users' existing assets will be multiplied by 0.1, meanwhile, the 10 shares of BICO1D5L and KNC1D3L will be merged into 1 share, consequently, the net value per share will be up 10 times and user's holding amount will be down to 1/10. In this connection, the user’s total assets will stay the same after the merging.

The net value conversion is based on the net balance at the time of the merger.

About leveraged ETF, for more details: Leveraged ETF FAQ

What is merge?

Hotbit Team

November 22nd, 2022

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