ProShares UltraPro Short QQQ (bStocks Tokenized Stock)SQQQb
ProShares UltraPro Short QQQ (bStocks Tokenized Stock) (SQQQb) is a token tracking the underlying shares, backed by dedicated collateral and issued by Binance bStocks through Btech Holdings Ltd and distributed through Binance with Alpaca 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. Retail investors and institutions AE can mint and redeem directly with Binance bStocks in USDC after completing KYC. Residents of the United States 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. SQQQb has been issued on BNB Chain as an ERC-20 token since September 2026.