Mexo will conduct the settlement and rebalance on 4 ETFs at 6:00 am, 1 February 2021 (CST).
Traders who are holding a position on BTC3L, BTC3S, BTC3S and/or ETH3S will receive an automatic conversion of his/her position to USDT based on the net value at 6:00am, 1 February 2021 (CST).
Please refer to the procedure for settlement and rebalance below:
Trading Suspension: 6:00am, 1 February 2021(CST)
Settlement time: 6:00-8:00 am, 1 February 2021(CST)
Rebalance time: 12:00 pm, 1 February 2021 (CST)
To avoid any price volatility, we suggest all ETF traders to close his/her positions before the settlement. All pending orders will automatically be cancelled and closed by the system at 6:00am, 1 February 2021.
The procedure for rebalancing is expected to begin at 12pm, 1 February 2021 (CST) and should be able to completed within 1-3 days. No further announcements will be published.
The name and trading pair for new ETF products will remain the same after the rebalance. And we will add more liquidity and more ETF products to our users.
The upgraded ETF Product will have a lower management fee. Decreased from 0.03% to 0.01%.
But the transaction fee will be slightly increased. Right now, ETF product transaction fee is the same as Spot trading, after the upgrade of the product, the transaction fee of ETF product will increased slightly to 0.1% for both maker and taker.
Thank you for your support.
Jan. 30th, 2021