BlackRock announced plans to launch an ETF tracking the Nasdaq 100 Index, set to begin trading on Thursday. The new "iShares Nasdaq 100 ETF" aims to capitalize on the increasing investor interest in AI-driven stock market growth. This move positions BlackRock to challenge Invesco's long-standing dominance in the Nasdaq 100 ETF market, where Invesco's QQQ Trust Series 1 has been a popular choice among investors.
The launch follows recent changes by Nasdaq to its inclusion rules, facilitating the addition of newly listed companies like SpaceX to the index. BlackRock's entry into this space comes on the heels of State Street's recent introduction of a similar Nasdaq 100 ETF, highlighting the competitive landscape as asset managers vie for investor attention in the tech-heavy index sector.
BlackRock to Launch Nasdaq-100 Index ETF Amid AI Stock Surge
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