QQQb, issued by BTech Holdings Limited, is a tokenized certificate over shares providing economic exposure to a U.S.-listed exchange-traded fund, admitted to trading on Binance Exchange under the bStocks product. [S1]

Each QQQb token tracks the live price of the Invesco QQQ Trust (QQQ), a U.S.-listed exchange-traded fund, and is backed 1:1 by a corresponding underlying share held with a regulated custodian. [S1] Corporate actions such as stock splits and dividend-related adjustments are processed automatically, helping holders maintain continuous exposure. [S1] Holders convert between the underlying equity and QQQb at a 1:1 ratio with zero conversion fees, except during corporate actions or platform maintenance. [S1]

QQQb is issued by BTech Holdings Limited, a Binance group affiliate, and offered through an Approved Prospectus in the Abu Dhabi Global Market (ADGM), UAE, following approval by the Financial Services Regulatory Authority (FSRA). [S1] bStocks are Certificates representing certain Financial Instruments under paragraph 92, Schedule 1 of the Financial Services and Markets Regulations; they are not stocks or shares and do not allow holders to directly own the underlying, nor represent affiliation with its issuer. [S1] Access is limited to eligible non-U.S. users on a secondary-market basis; tokens are convertible to and from the underlying equity at 1:1 through broker-dealer Nest Trading Limited. [S1]

QQQb is issued as a BEP-20 token on BNB Chain (BNB Smart Chain), compatible with BNB Chain wallets and onchain applications. [S1] Tokens are minted and redeemed under the issuer's bStocks Minting and Redemption Product Terms, with 1:1 conversion between the underlying equity and QQQb; holders may retain tokens in self-custody via compatible wallets. [S1]

<Sources
  retrievedAt="2026-07-02"
  items={[
    { id: "S1", url: "https://www.adgm.com/financial-services-regulatory-authority/listing-authority/official-list-of-securities" },
  ]}
/>


# Asset senders (daily) methodology

## 1. Overview

Asset senders (daily) is calculated as the number of unique addresses that initiate asset transfers within a fixed 24-hour window. Daily activity is measured from 00:00 UTC to 23:59 UTC for each tracked asset. Active transactors are isolated from passive recipients by identifying only the sending addresses of transactions. This metric is utilized to evaluate the daily active user base and transaction utility of tokenized assets across multiple blockchain networks.

## 2. Data sources

- **EVM chain events**: ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions, covering Solana
- **Aptos, Cardano, Stellar Classic, and Sui events**: Token withdraw events, covering Aptos, Cardano, Stellar, and Sui
- **Near, Algorand, Injective, Ripple, and Stellar Soroban events**: Token transfer events, covering Near, Algorand, Injective, Ripple, and Stellar
- **Polkadot Asset Hub events**: `Transferred` events from the `assets` pallet, covering Polkadot Asset Hub
- **Asset metadata**: Token addresses and chain configurations

## 3. Step-by-step calculation

### Component A: Extract sender addresses

- **Purpose**: Identify and extract the unique sending addresses for each asset transfer across all supported chains.
- **Logic**: On EVM-compatible chains, sending addresses are extracted from the `from` field of ERC-20 `Transfer` events, excluding the zero address to filter out mint transactions. On Solana, sending addresses are extracted from the authority address field of token transfer instructions. On Aptos, Cardano, Stellar Classic, and Sui, sending addresses are identified from the account address field of token withdraw events. On Near, Algorand, Injective, and Stellar Soroban, sending addresses are extracted from the sender address field of token transfer events, with null addresses excluded. On Ripple, sending addresses are extracted from token transfer events where the transfer value is negative. On Polkadot Asset Hub, sending addresses are extracted from the event data of `Transferred` events emitted by the `assets` pallet.
- **Key fields**: `timestamp` (block timestamp truncated to daily grain), `token_address` (the contract or asset identifier), `sender_address` (the address initiating the transfer)

### Component B: Consolidate and deduplicate sender data

- **Purpose**: Aggregate sender addresses across all chains and prepare the dataset for daily unique counting.
- **Logic**: Sender records from all individual chains are consolidated into a unified dataset. For each asset on each chain, the sending addresses are grouped by day. To prevent double-counting, duplicate sender addresses for the same asset on the same chain within the same 24-hour window are removed.
- **Key fields**: `timestamp` (daily timestamp), `chain_id` (blockchain identifier), `token_address` (asset address), `sender_address` (unique sending address)

### Component C: Final aggregation

- **Purpose**: Calculate the final daily active sender count per asset and per chain.
- **Logic**: The consolidated dataset is aggregated to compute the daily active senders. Unique sending addresses are counted for each asset on a daily basis, both at the individual chain level and aggregated across all chains for multi-chain assets. If no transfer activity is recorded for a tracked asset on a given day, the daily sender count is filled with zero values.
- **Key fields**: `timestamp` (daily timestamp), `chain_id` (blockchain identifier), `token_address` (asset address), `asset_dau` (daily active senders count)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique asset senders over a fixed 24-hour window.

Asset senders (daily)

Tokenized stocks

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Real-world asset (RWA) issuers

Binance bStocks

Invesco QQQ Trust (bStocks Tokenized Stock) (QQQb) is a token tracking the underlying shares, backed by dedicated collateral and issued by Binance bStocks through Btech Holdings Ltd and distributed through Binance bStocks with Alpaca Securities LLC as broker.

Each token tracks one underlying share, entitles holders to dividends, which are distributed as additional tokens, carries no voting rights, and carries an annual fee of 0%.

The collateral assets are held by Alpaca Securities LLC in segregated accounts within a bankruptcy-remote structure and Crowe Mak LLP as auditor.

Residents of the United States and jurisdictions under applicable sanctions cannot mint or redeem with Binance bStocks.

Btech Holdings Ltd is incorporated in the United Arab Emirates, is regulated in Abu Dhabi's ADGM, and is supervised by the Financial Services Regulatory Authority.

Holder terms are governed by the law of the United Arab Emirates.

QQQb has been issued on BNB Chain as an ERC-20 token since June 2026.

Invesco QQQ Trust (bStocks Tokenized Stock)QQQb