STOCKS | BlackRock Launches iShares Nasdaq 100 ETF With $24 Initial NAV

BlackRock has launched an iShares Nasdaq 100 ETF that tracks the Nasdaq 100 Index, trading under the ticker IQQ with an initial net asset value of $24 per share, and it began trading on Thursday. According to PANews, Reuters reported that the product will compete with Invesco’s long-established QQQ and QQQM ETFs, while State Street launched a similar product, QNDX, last month. The report said Nasdaq recently revised its listing standards to speed the inclusion of newly listed companies, such as SpaceX, into the index. It also noted that strong demand for AI-driven technology stocks helped the Nasdaq 100 post its best performance since April 2020 in the quarter ending in June. BlackRock currently manages more than $41 billion in assets through its other Nasdaq 100 strategies.