If you submit a tokenized fund redemption request on the weekend, the net asset value (NAV) is calculated on the next fund trading day. In fund industry terms, a weekend submission is a "non-trading day order." The NAV is confirmed on T day, where T day is the next business day, not the weekend day.
Why Business Days Are Used
Although issuance and redemption of a tokenized money market fund are executed through on-chain smart contracts, core steps such as NAV calculation, income distribution, and redemption payment still follow traditional fund operation rules.
Different products have different cutoff times:
HashKey GFUSD (Guangfa USD Money Fund): Subscription and redemption requests submitted before 9:00 AM Hong Kong time on a trading day are processed on the same day (T day). Requests submitted after 9:00 AM are moved to the next trading day (T+1). Weekend orders are therefore treated as being submitted on Monday, or the first business day after a holiday.
OSL Wealth: Redemption is based on "unknown price trading." The final amount is determined by the next unit NAV published by the fund company on a fund trading day.
In standard fund industry terms: Orders placed on weekends and public holidays are executed at the next trading day's NAV.
Accumulating vs Distributing Structures
The redemption price is determined by the NAV. For accumulating structures, earnings are directly included in the token price, so the NAV keeps growing. For distributing structures, the NAV stays at $1.00 and earnings are paid out separately. A weekend redemption will use the next trading day's NAV, but the difference between these two structures is not decided by the submission time.
When You Receive Redemption Funds
NAV confirmation and fund arrival are two different things:
NAV confirmation: The trade is executed at the first fund trading day's NAV after submission.
Fund arrival: This depends on the specific product rules. HashKey GFUSD redemption payments are made "as soon as possible, but in any event no later than one calendar month." In traditional overseas funds, redemption payments usually take T+3 to T+5 business days. Tokenized funds are shortening this, but the exact arrival time should still be confirmed according to product terms.
Special Cases
During extreme weather, such as a Hong Kong Typhoon Signal No. 8 or Black Rainstorm Warning, same-day subscription or redemption orders may not be accepted or may be postponed to the next trading day.
WisdomTree received SEC approval in February 2026 for its tokenized money market fund (WTGXX), which can offer 24/7 instant redemption. However, products with this kind of round-the-clock redemption are still rare.
Next Steps
After submitting a weekend redemption request, the fund company will process it on the next business day and confirm the redemption amount at that day's NAV. It is a good idea to keep the redemption request record and timestamp. On Monday, or the first business day after a holiday, check the order status to confirm whether the order has been accepted and which day's NAV is used.
