ProShares UltraPro QQQ (TQQQX) price

TQQQX tracks ProShares UltraPro QQQ, a fund that aims to deliver a multiple of a daily move in an index or a single stock, or the opposite of that move. The target applies to one day and resets every day.

Over periods longer than a day, the result depends on the path the market took and can differ sharply from the multiple you'd expect, especially when prices swing. Funds like this are built for short holding periods.

For too long, investing has come with barriers. Borders. Brokers. Limitations. It’s been complicated, costly, and — for millions — out of reach. xStocks were created to change that. xStocks are tokenized stocks. They’re backed 1:1 by the underlying assets, composable with DeFi protocols, compliant with EU regulations, accessible to non-US users, and provide a legal claim to the value of the stock. xStocks enable easy access to 57 US Stocks and ETFs to regular users through top centralized and decentralized exchanges, and can be integrated with other DeFi protocols like any other token.

WebsiteXTelegram

TQQQX contract address

XsjQP3iMAaQ3kQScQKthQpx9ALRbjKAjQtHg6TFomoc

Ticker

TQQQX

Issuer

xStocks

Status

Verified

Market cap

$7.30M

Liquidity

$86.80K

24h volume

$1.82K

Fully diluted value

$31.19M

Holders

818

TQQQX is issued by Backed Finance. Backed Finance issues xStocks through Backed Assets (JE) Limited, which holds the underlying securities with custodians and handles minting and redemption for eligible clients.

What you hold is the token, not the underlying asset. TQQQX tracks the price of ProShares UltraPro QQQ, but it doesn't give you shareholder rights or a direct claim on the underlying holdings. Minting and redemption are handled by Backed Finance for eligible clients under its own terms. Solflare is a self-custody wallet for holding and swapping TQQQX, and it does not issue, back, or custody the token.

The price of TQQQX on Solana is set by on-chain trading. Where liquidity is deep, it tends to stay close to the underlying price. Where liquidity is thin, a small swap can move the price and the gap to the underlying can widen.

When the underlying fund pays a distribution, Backed Finance folds it into the token instead of paying it out, so each TQQQX comes to represent slightly more of the fund over time while the number of tokens in your wallet stays the same.

TQQQX can be swapped on Solana at any hour, but the fund it tracks trades only during US market hours. Outside those hours there's no live fund price, so the price of TQQQX comes from on-chain trading alone and can drift from the fund's last close.

The scaling factor for TQQQX is 2.0117, and it combines two adjustments. Each token was set at 1/2 of a share of the underlying fund, and distributions folded in since then have moved the factor further. Use the factor, not the token price alone, when comparing TQQQX with the fund.

Other tokens tracking ProShares UltraPro QQQ