In a token migration (also called a token swap, rebranding or redenomination) or a stock split, an asset is replaced or its quantity changes by a factor. In Blockpit, you need to make sure that the acquisition costs and acquisition date carry over from the old holding to the new one. How much you have to do depends on the ratio and on your exchange.
What happens in a migration and a split?
▸ Token migration: usually a technical upgrade of the blockchain or the smart contract. If the total supply changes, your quantity changes in the same ratio (redenomination, if not 1 : 1).
▸ Stock split: more of an economic measure so that a single share becomes cheaper. The opposite case is called a reverse stock split.
▸ Both work in both directions: the quantity is increased by a factor, reduced or stays the same.
💡 Example: Token migration at a ratio of 1 : 100 in Blockpit
Not every migration changes the quantity
Most smart contract upgrades do not need a redenomination. In that case there is no distribution of new assets (redistribution), for example as an Airdrop.
Every exchange handles it differently
If you hold the asset on an exchange, the exchange usually makes the adjustment, i.e. the distribution of new or the reduction of existing quantities. Whether it also transmits this correctly to Blockpit is something you have to check yourself.
ℹ️ Good to know: The goal of the check: the balance is correct, and acquisition costs and acquisition date carry over from the old to the new quantity.
How do I recognize a migration in my transactions?
🔎 Usually only when the affected integration shows a mismatched balance or individual transactions with Unlabeled (In/Out). Such transactions often belong to a distribution or withdrawal as part of the migration.
💡 Tip: Many exchanges describe such events in their own articles. Search for the name of the exchange and the asset together with terms such as token migration, token swap, stock split, airdrop, hard fork or rebrand.
⚠️ Caution: Not every exchange books migrations or splits completely. Sometimes the withdrawal or the distribution is missing as a separate transaction, or the data does not arrive via API or CSV. Some exchanges only top up or reduce the holding (partial booking). In that case, acquisition data does not carry over completely to the new holding.
How to record a migration or a split correctly
1. Determine the ratio
Ratio | What usually happens | What you do |
1 : 1 | usually nothing; rarely an additional distribution of the full new quantity, then a doubled holding or "Unlabeled" | delete the additional transactions as usual |
1 : X or X : 1 | quantity changes; mismatched balance or "Unlabeled"; price jump if the price source (e.g. CoinMarketCap) continues the price | delete, add or edit transactions |
Merge of several assets | several migrations in a row, e.g. AGIX → FET, OCEAN → FET, FET → ASI | record each migration separately as above |
💡 Example 1:1 – RNDR to RENDER: An additional deposit (Airdrop or Unlabeled (In)) doubles your holding. Delete this deposit as usual.
💡 Example 1:1 – FTM (Fantom) to S (Sonic): An additional withdrawal and deposit interrupts the chain of your acquisition data. Delete both as usual.
ℹ️ Good to know: If the integration still shows a doubled Synced Balance afterwards, write to our support in the chat.
🇦🇹 Austria: token merge
In a token merge, old holdings (acquired before 01.03.2021) are converted into new holdings according to the view of the Austrian Federal Ministry of Finance (BMF). Austrian users use the label Trade in this case. Acquisition costs and acquisition date of the old holdings are not carried over.
2. Check and adjust the period
Compare the period of the migration in Blockpit and at your exchange:
🔎 In Blockpit: filter Asset + Integration + Date
🔎 At the exchange or wallet: filter Asset + Date, if available
💡 Tip: For crypto assets there is the label Token Migration. With it, Blockpit carries over the acquisition costs automatically, so the manual Update asset values from the examples is not needed. Support for derivatives and stocks (stock splits) is planned.
Example 1: Bitpanda migration, fully booked
Bitpanda fully books out the old quantity of MC (withdrawal) and fully books in the new quantity of BEAM at a ratio of 1 : 10 (deposit).
✅ Solution: Everything is there. You only carry over the cost basis of the old quantity to the new deposit with Update asset values.
Example 2: Bitpanda reverse stock split, only partly booked out
Bitpanda only books out 900 WEED to get from 1,000 to 100 WEED (ratio 10 : 1).
✅ Solution: Increase the withdrawal to the full old quantity (1,000 WEED) by editing it. Then create a deposit for the new quantity (100 WEED) as Airdrop or Non-Taxable (In) and carry the old cost basis over to it with Update asset values.
Example 3: Bitpanda migration, only partly booked in
✅ Solution: As in example 1, but Bitpanda does not book out the old quantity. You create this withdrawal yourself. The deposit of the new quantity only arrives partly as an Airdrop. Edit its quantity to the full new quantity and then carry over the cost basis with Update asset values.
Typical mistakes
✗ Leaving the additional distribution of a 1:1 migration in place → doubled holding, gains too high on sale
✗ Not carrying the cost basis over to the new quantity → the new holding starts with €0 acquisition costs
Blockpit does not provide tax advice. For specific legal questions, please consult a tax advisor.