Hotbit Will Merge the Shares of Leveraged ETF Products IMX1D5L, GAL1D5L, GALA1D5L, ETHW1D5L and PEOPLE1D5L on October 21st, 2022

Dear respected users，
Since the net value of leveraged ETF products IMX1D5L, GAL1D5L, GALA1D5L, ETHW1D5L and PEOPLE1D5L are lower than 0.1 USDT, which triggers the Share Merging Mechanism. As such, Hotbit will merge the shares of IMX1D5L, GAL1D5L, GALA1D5L, ETHW1D5L and PEOPLE1D5L at 08:45 AM UTC on October 21st, 2022 UTC.

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 IMX1D5L, GAL1D5L, GALA1D5L, ETHW1D5L and PEOPLE1D5L 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

October 21st, 2022