BlackRock Launches iShares Nasdaq 100 ETF (IQQ) at $24 NAV to Challenge Invesco QQQ

BlackRock is launching the iShares Nasdaq 100 ETF under the ticker IQQ, expected to begin trading on Thursday (July 9) with an initial net asset value of $24 per share. The fund tracks the Nasdaq-100 index, which comprises the 100 largest non-financial companies listed on the Nasdaq exchange and has drawn sustained investor inflows driven by concentrated demand for large-cap technology and AI-linked stocks.

IQQ directly competes with Invesco's QQQ Trust Series 1 and Nasdaq 100 ETF, which have NAVs of $722.45 and $297.45, respectively. BlackRock, the world's largest asset manager, leverages its distribution advantage through the iShares platform to reach financial advisers, institutions, and retail investors. State Street also launched a competing Nasdaq-100 ETF last month, intensifying competition in a category historically dominated by Invesco.