BlackRock, the world’s largest asset manager, is set to launch an exchange-traded fund (ETF) tracking the technology-heavy Nasdaq-100 index. The iShares Nasdaq 100 ETF will start trading under a new ticker on Thursday, aiming to tap into the surging investor demand for exposure to the AI-driven stock market rally.
Competing with Invesco’s Dominance
The new ETF will compete with Invesco’s Nasdaq-100 franchise, which has long dominated the market for investors seeking access to large-cap growth and tech-heavy stocks. BlackRock’s U.S. head of iShares, Elise Terry, stated that the new ETF will provide complementary strategies for investors to align their portfolios with their objectives.
The Nasdaq 100 index tracks the top 100 non-financial companies listed on the Nasdaq stock exchange. The iShares Nasdaq 100 ETF will start trading with an initial net asset value (NAV) of $24 per share, significantly lower than Invesco’s funds.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
