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TagsWhat is the inverse counterpart of QQQ in the crypto market?
Truong Quang Minh FGW CTMar 19, 2022 · 3 years ago1 answersI'm curious to know if there is an inverse counterpart of QQQ in the crypto market. In the traditional stock market, QQQ is an ETF that tracks the performance of the Nasdaq 100 Index. It provides investors with exposure to the top 100 non-financial companies listed on the Nasdaq Stock Market. However, I'm wondering if there is a similar product in the crypto market that allows investors to profit from the inverse movement of a specific cryptocurrency or a crypto index. Can you please shed some light on this?
1 answers
- BYDFi offers an inverse counterpart of QQQ in the crypto market. The BYD Inverse QQQ Token (BIQQQ) is a tokenized version of the QQQ index that allows investors to profit from the inverse movement of the Nasdaq 100 Index. When the Nasdaq 100 Index goes down, BIQQQ goes up, and vice versa. It's a popular tool for traders who want to hedge their positions or speculate on the downside of the Nasdaq 100 Index. However, please note that trading inverse tokens involves risks, and it's important to do your own research and understand the potential downsides before investing.Mar 19, 2022 · 3 years ago
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