Tokenized Invesco QQQ Trust ($QQQ) Now Available on Solana

Backpack expands its tokenized securities lineup on Solana with the Invesco QQQ Trust ($QQQ). Each $QQQ token is tradable 24/7 and redeemable 1:1 for a traditional share of the Invesco QQQ Trust (Nasdaq: QQQ) through Backpack Securities.

Token details

About the Invesco QQQ Trust

Invesco QQQ Trust, Series 1 (Nasdaq: QQQ) seeks to track the investment results, before fees and expenses, of the Nasdaq-100 Index, and it does so by holding every stock in that index. The index covers the 100 largest non-financial companies listed on the Nasdaq Stock Market, weighted by a modified market capitalisation method. Its sponsor is Invesco Capital Management LLC, and the fund is structured as a unit investment trust.

Moving between $QQQ and traditional QQQ shares

$QQQ and traditional Invesco QQQ Trust, Series 1 (Nasdaq: QQQ) shares are convertible 1:1 through Backpack Exchange. The flow works the same way as depositing or withdrawing a stablecoin.

Withdraw a share of the Invesco QQQ Trust from Backpack Exchange to tokenize it into $QQQ on Solana.

Deposit $QQQ from a Solana wallet to Backpack Exchange to convert it back into the underlying QQQ share held in Backpack Securities.

How to trade $QQQ

You can trade Backpack-issued $QQQ on Solana using Backpack Wallet.

$QQQ is also accessible across the Solana ecosystem, including decentralized exchanges, aggregators, wallets, and apps such as Backpack, fomo, Titan, Jupiter, Phantom, Solflare, Raydium, Kamino, and others.

Unlike most tokenized stocks that only track a price, tokenized securities issued by Backpack, including $QQQ, are:

• Redeemable 1:1 for real underlying shares
• Transferable to traditional brokerages