BlackRock Inc. has filed plans to launch a new exchange-traded fund designed to track the Nasdaq-100 Index, signaling a direct challenge to Invesco Ltd., which has long dominated this segment of the ETF market. The proposed fund, named the iShares Nasdaq-100 ETF, is expected to trade under the ticker IQQ, according to a Monday filing submitted to the U.S. Securities and Exchange Commission. Details regarding the fund’s management fees have not yet been disclosed.
Nasdaq-100 ETF Competition and Market Position
If approved, IQQ would become one of only a few U.S.-listed ETFs that exclusively track the Nasdaq-100 Index and notably the first such product not managed by Invesco. The Nasdaq-100 includes the 100 largest non-financial companies listed on the Nasdaq exchange and has been closely licensed since its launch in 1985.
Invesco currently operates the dominant products tied to the index, including the Invesco QQQ Trust Series 1, which holds roughly $376 billion in assets, making it one of the most widely traded ETFs globally. Another major offering, the Invesco Nasdaq-100 ETF (QQQM), manages about $70 billion in assets.
BlackRock Expands Nasdaq-Linked ETF Strategy
BlackRock already manages four Nasdaq-100-tracking ETFs outside the United States and continues to expand its presence in Nasdaq-related investment products. Within the U.S., the firm also offers funds such as the iShares Nasdaq Top 30 Stocks ETF (QTOP) and the iShares Nasdaq-100 ex Top 30 ETF (QNXT).
A Nasdaq spokesperson noted that demand for Nasdaq-100 exposure continues to grow globally, while Invesco emphasized its long-term investment ecosystem, stating that its established QQQ franchise remains a cornerstone of the Nasdaq-100 market.
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