The cryptocurrency market is continuously evolving, and with it, trading platforms must adapt to maintain compliance, security, and user trust. In line with these industry dynamics, Huobi has officially delisted its ETP (Exchange-Traded Product) trading section and completed the USDT redemption process for affected users. This article provides a comprehensive overview of the delisting event, including the final net value data as of November 21, 2022, at 14:00 (UTC+8), and explains how users can calculate their final USDT returns.
Understanding the ETP Delisting Decision
ETP products are leveraged tokens that mirror the price movements of underlying digital assets—such as Bitcoin (BTC) or Ethereum (ETH)—with multipliers like 3x or -3x. While they offer opportunities for amplified gains, they also carry higher risks due to volatility and daily rebalancing mechanisms.
Huobi’s decision to delist ETPs reflects a broader industry trend toward simplifying product offerings and prioritizing user protection. By discontinuing these high-risk instruments, the exchange aims to streamline operations and focus on more sustainable and transparent trading solutions.
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Final Net Value Data for ETP Products
Below is the official net value list published by Huobi for all ETP products as of November 21, 2022, at 14:00 (UTC+8). This data serves as the basis for calculating the final USDT amount returned to users.
- BTC*3: 0.2350000000
- BTC*(-3): 0.0003797600
- ETH*3: 0.0195000000
- ETH*(-3): 0.0000009561
- LINK*3: 0.0000006299
- LINK*(-3): 1.0276000000
- BSV*3: 0.0000006978
- EOS*3: 0.0000004593
- EOS*(-3): 0.0000038800
- DOT*2: 0.0859000000
- DOT*(-2): 0.3713530000
- UNI*2: 0.0389150000
- UNI*(-2): 0.1003180000
- LTC*3: 0.0006940000
- LTC*(-3): 0.0000003529
- XRP*3: 0.0000970400
- XRP*(-3): 0.3168000000
- BCH*3: 0.0000095300
- BCH*(-3): 0.0000716800
- FIL*3: 0.0000002120
- FIL*(-3): 0.0000236800
- ETH*(-1): 0.3744000000
- BTC*(-1): 1.1041000000
These values represent the final settlement worth of each ETP token in USDT terms.
How to Calculate Your USDT Refund
The total USDT returned to each user is determined using a straightforward formula:
Final USDT Return = User’s ETP Holdings × Final Net Value
For example, if a user held 1,000 units of BTC*3 at the time of delisting, their refund would be:
1,000 × 0.235 = 235 USDT
Similarly, holding 5,000 units of DOT*(-2) would yield:
5,000 × = 1,856.765 USDT
Users are encouraged to review their historical holdings and apply the corresponding net value to verify their final payout.
Why Net Value Matters in ETP Settlements
Net value is a critical metric in ETP operations—it reflects the real-time worth of each token based on the underlying asset’s performance and leverage mechanism. During delisting, this value becomes the anchor for fair and transparent user compensation.
Unlike spot assets, ETPs are subject to compounding effects from daily rebalancing, meaning long-term holdings may deviate significantly from simple leveraged returns. The published net value ensures all users receive an accurate reflection of their investment’s worth at the moment of closure.
Frequently Asked Questions (FAQ)
What does ETP delisting mean for my assets?
Delisting means the ETP product is no longer available for trading. However, your holdings were converted into USDT based on the final net value and returned to your account.
When were the USDT funds distributed?
Huobi completed the USDT return process shortly after the official delisting announcement on November 31, 22. Users should check their account history for transaction records.
Can I still trade ETPs on Huobi?
No, all ETP products have been permanently removed from Huobi’s trading interface. The platform now focuses on spot, futures, and other standardized financial instruments.
Why were some inverse ETPs valued higher than their long counterparts?
Inverse ETPs (e.g., BTC*(-3)) can gain value during market downturns. For instance, if Bitcoin's price dropped sharply before delisting, inverse tokens would appreciate—explaining higher net values in certain cases like XRP*(-3) at ₀.₃₁₆₈.
Is there a way to appeal if my refund seems incorrect?
Users who believe there is a discrepancy should contact Huobi customer support directly through their official platform for verification and resolution.
Will Huobi relaunch ETP products in the future?
As of now, there has been no official statement regarding the reintroduction of ETPs. Market conditions and regulatory factors will likely influence any future decisions.
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The Bigger Picture: Market Trends and User Protection
The retirement of ETP products is part of a larger shift across major exchanges toward safer, more regulated offerings. As global scrutiny on crypto intensifies, platforms are proactively adjusting their portfolios to reduce exposure to high-risk instruments.
This move benefits long-term investors by fostering a more stable and trustworthy trading environment. It also encourages users to explore alternative strategies—such as futures contracts with adjustable leverage or staking-based yield generation—that provide flexibility without hidden rebalancing costs.
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Conclusion
Huobi’s ETP delisting marks a pivotal moment in its platform evolution. By transparently publishing net values and ensuring timely USDT returns, the exchange has upheld its responsibility to users during a complex transition.
Whether you were an active ETP trader or held positions passively, understanding how your refund was calculated empowers better decision-making in future investments. As the crypto landscape matures, staying informed about product changes—and knowing where to find reliable information—remains essential.
For those seeking advanced yet accessible trading experiences, exploring regulated alternatives with clear risk parameters is the next logical step forward.