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Ethereum Merge Client Hub

Bitcoin Suisse is closely monitoring the upcoming merge of the Ethereum network and will use its considerable knowledge and expertise in the space to ensure an easy and smooth transition for its clients and their funds held with Bitcoin Suisse.

Please find more general information surrounding the Merge on our [public Merge hub](https://www.bitcoinsuisse.com/ethereum-merge-hub).

**ETH Deposits & Withdrawals during the Merge**

At Bitcoin Suisse, our top priority is safeguarding your assets and avoiding any risk of potential loss of funds. Therefore, during the Ethereum Merge, Bitcoin Suisse will pause all deposits and withdrawals of ETH and ERC20 tokens as well as ETH staking entries as a precautionary measure. We do not expect any impact on trading.

We will inform you via a dedicated client mailing when ETH and ERC20 token deposits and withdrawals as well as ETH staking entries are re-enabled.

**Post-Merge Rewards**

Post-Merge, the rewards distributed to the Ethereum Validators will also include transaction fees, which Pre-Merge were earned miners. Bitcoin Suisse intends to pay out these additional rewards from transaction fees to its clients. They can be paid out in a separate reward booking. Bitcoin Suisse is currently assessing whether additional rewards from [Maximal Extractable Value (MEV)](https://www.bitcoinsuisse.com/learn/ethereum-merge-definitions) can be offered to our clients as well.

We expect to announce whether MEV will be supported in about a month, during which time we will conduct a thorough observation of the stability of the merged Ethereum network. In any case, the annual percentage rate (APR) for staking ETH is expected to increase significantly post-Merge.

**Potential ETH Hard Fork**

The upcoming Ethereum Merge from its current Proof-of-Work (PoW) mining consensus to Proof-of-Stake (PoS) is expected for the third week of September 2022. In recent weeks, the Merge has sparked discussions on potential hard forks within the Ethereum miner community, with some Ethereum miners announcing their intention to maintain Ethereum PoW (“ETHW”).

**TL;DR** ( **T**oo **L**ong; **D**idn't **R**ead)

*   **Your ETH holdings at Bitcoin Suisse are safe and remain unaffected by the anticipated hard fork. If we identify any risk to your ETH holdings, we will not engage in any activities relating to the hard fork.**
*   Bitcoin Suisse would like to offer its clients the opportunity to participate in a possible payout of a potential Ethereum hard fork resulting in a new Ethereum Proof-of-Work (PoW) blockchain along with a forked coin (“ETHW”).
*   At this point, we do not know if and when such Ethereum hard fork will occur.
*   Bitcoin Suisse has decided not to support the forked ETHW coin for custody, trading, or withdrawals.
*   Instead, eligible clients who choose to participate in a potential Ethereum hard fork will receive an amount in CHF equivalent to the ETHW market prices Bitcoin Suisse can realize on third-party exchanges. Any CHF amount will be paid out to their BTCS account.
*   For supporting the potential Ethereum hard fork, we will deduct a processing fee from the CHF payout amount per eligible client.
*   If you do not actively choose to participate within the deadline communicated in the client mailing dated September 1, 2022, you will not receive the payout in CHF.
*   If you wish to receive the forked ETHW coin, you must withdraw your ETH in time beforehand and carry out the chain split yourself.
*   Please see for further instructions for participation and the terms and conditions of participation our client mailing dated September 1, 2022.

**Background**

The “Merge”, an important update of the Ethereum system, is happening soon. With this update, Ethereum moves from the “proof-of-work” (PoW) consensus mechanism and to the more efficient “proof-of-stake” (PoS) consensus mechanism. After the update, mining will be obsolete, and miners will not receive any minted ETH anymore. To keep their income, some miners are working on a separate fork chain that entirely relies on PoW and has its own separate currency called ETHW. On that separate fork chain, holders of unstaked Ether will automatically have the same amount in new ETHW. Futures on ETHW currently trade at around USD 30. However, the price of ETHW may deviate significantly from this price after the Ethereum Hard Fork, as soon as the ETHW have been distributed and can be sold.

_All essential information regarding handling of rewards and any potential hard fork situations will be communicated on this page._

Ethereum Merge Client Hub

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