Binance to Reinvest SOXL Dividend Value Into SOXLB Tokens
Eligible holders will receive whole or fractional SOXLB units after deductions, while SOXLB/USDT trading remains available during the distribution.
Binance will distribute the net dividend value from Direxion Daily Semiconductor Bull 3X Shares (SOXL) to eligible holders of its SOXLB tokenized product through additional whole or fractional SOXLB units.
The distribution follows deductions for withholding taxes, fees, costs and other expenses. Eligibility was based on account balances recorded Sept. 22 at 00:00 UTC, equivalent to Sept. 21 at 8 p.m. ET.
On-chain SOXLB holders will receive the allocation through an adjustment to the token’s multiplier coefficient. SOXLB/USDT trading will remain available during the process.
Binance suspended SOXLB deposits, withdrawals and 1:1 conversions from SOXL at 7:30 p.m. ET (23:30 UTC) on Sept. 21. The suspended services will resume once the distribution is complete.
SOXL is a leveraged exchange-traded fund designed to seek 300% of the daily performance of the NYSE Semiconductor Index before fees and expenses. Its September ex-date and record date were Sept. 22, with the dividend payment scheduled for Sept. 29.
SOXLB is a bStock issued by BTech Holdings Limited, a Binance group affiliate. The token represents an interest in securities held by the issuer rather than direct ownership of the underlying shares.
