BlackRock announced on Tuesday that it plans to launch an exchange-traded fund tracking the Nasdaq-100 index, aiming to capitalize on increasing investor interest in the AI-driven stock market rally.
The ETF, labeled ” iShares” has a gross expense ratio of 0.12%, with a waiver reducing the expense ratio to 0.10% through July 31, 2027.
The ETF’s initial NAV will be $24 per share and is expected to begin trading on Nasdaq as early as Thursday, July 9, according to BlackRock.
In a press release, Elise Terry, U.S. Head of iShares at BlackRock, told investors, “IQQ enhances our ability to offer investors access to the Nasdaq-100 with iShares ETFs — providing complementary strategies that allow them to align their portfolios with their objectives. Supported by the liquidity, market quality, and scale of the iShares platform, this expanded suite gives investors the flexibility to customize their exposures and evolve portfolios over time.”
BlackRock currently manages over $41 billion in assets across its other Nasdaq 100 strategies, such as the iShares Nasdaq Top 30 Stocks ETF and the iShares Nasdaq Premium Income Active ETF.
BlackRock’s latest proposal comes just months after Nasdaq revised its criteria to fast-track the inclusion of newly listed companies like SpaceX.
By CEO NA Editorial Staff
