Nasdaq xStock

Nasdaq xStock (QQQX) is a tokenized representation of a Nasdaq-related exchange-traded fund, issued under the xStocks program, which creates blockchain-based tokens backed one-to-one by the underlying financial assets they represent. It is designed to give non-US users access to US equity and ETF exposure through centralized and decentralized exchanges without requiring a traditional brokerage account. The project positions itself as a way to remove geographic and institutional barriers that have historically limited retail participation in US financial markets.

Each QQQX token is claimed to be backed one-to-one by the corresponding underlying ETF asset, held in custody, and the token holder is said to have a legal claim to that value under EU-compliant regulatory frameworks. The token exists across multiple blockchain ecosystems simultaneously, including Ethereum, Solana, BNB Chain, Arbitrum, and Hyperliquid, which allows it to interact with DeFi protocols on those networks as a standard token. No consensus algorithm or block time is associated with QQQX itself, as it is a tokenized asset rather than a native blockchain protocol.

The data provided does not include a fee stream, revenue figures, or protocol income for QQQX, so no fee-based economic analysis can be drawn from what is stored here. The token derives its value from the one-to-one backing by the underlying asset rather than from protocol-generated cash flows. The 24-hour turnover ratio stands at approximately 2.02 percent of market capitalization, which describes trading activity relative to the token's market cap of 35,867,915 USD at a point in time, but this figure reflects market activity rather than fee revenue.