BlackRock Launches Low-Fee Nasdaq 100 ETF, Challenging Invesco's Dominance

CoinFeed July 10 news, according to Reuters, BlackRock announced the launch of the iShares Nasdaq 100 ETF tracking the Nasdaq 100 index, ticker IQQ, with an initial net asset value of $24 per share, and began trading on Thursday. The ETF will challenge Invesco's long-dominant QQQ and QQQM ETFs; last month, State Street also launched a similar product QNDX. Nasdaq recently revised listing standards to accelerate the inclusion of newly listed companies (such as SpaceX) in the index. Strong demand for AI-driven tech stocks propelled the Nasdaq 100 to its best performance since April 2020 in the quarter ending June. BlackRock currently manages over $41 billion in assets through its other Nasdaq 100 strategies.