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About ProShares UltraPro QQQ (Ondo Tokenized)
Analysis of 12 Apr 2026ProShares UltraPro QQQ (Ondo Tokenized), or TQQQON, is a tokenized representation of the ProShares UltraPro QQQ (TQQQ) ETF issued by Ondo Global Markets through the Ondo Finance platform. TQQQ seeks 3x leveraged daily exposure to the Nasdaq-100 Index, making TQQQON one of the few on-chain instruments offering amplified exposure to major tech stocks.
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Each token is backed 1:1 by real TQQQ ETF shares held in custody by Clear Street (a FINRA-registered broker-dealer) and settled through the Depository Trust Company (DTC). The token operates across Ethereum, BNB Chain, and Solana with Chainlink oracle price feeds for DeFi composability.
Ondo Finance, founded by Nathan Allman (former Goldman Sachs Digital Assets), has grown to over $2.1 billion in total value locked and commands more than 60% of the tokenized equity market. The platform received regulatory approval from Abu Dhabi ADGM, had its SEC investigation closed without enforcement action in December 2025, and secured partnerships with Franklin Templeton ($1.7T AUM), Binance, and MetaMask.
Smart contracts have been audited by Spearbit, Cyfrin, Cantina, Halborn, and Code4rena.
