BlackRock has filed for a new exchange-traded fund designed to follow the Nasdaq-100 index, according to a regulatory filing made on Monday. The proposed vehicle will be named iShares Nasdaq-100 ETF and is slated to trade under the ticker IQQ. The filing did not disclose the fee structure for the product.
If launched, the fund would compete directly with Invesco’s QQQ Trust ETF, one of the world’s largest exchange-traded funds. Data compiled by LSEG show Invesco’s QQQ Trust holds about $376 billion in assets under management, making it a dominant product for investors seeking benchmark-linked exposure to large-cap growth, particularly technology stocks.
Only a small number of publicly available ETFs track the Nasdaq-100 exclusively, according to VettaFi’s ETF database. That limited set of direct trackers has left Invesco’s QQQ as a widely traded and popular avenue for getting exposure to the 100 largest non-financial companies listed on the Nasdaq exchange.
The Nasdaq-100 itself includes major technology companies such as Nvidia and Apple among its membership. In a public statement, Nasdaq said the move by BlackRock is aimed at broadening investor access:
"Expanding access to the Nasdaq-100 is intended to be additive, supporting investors by improving the efficiency, liquidity, and availability of benchmark-linked exposure across markets and product types," Nasdaq said.
The filing and related commentary underscore a potential shift in the competitive landscape for products tied to the Nasdaq-100. Market participants and investors will likely watch for details the filing did not provide, notably the fee schedule for IQQ, which could influence adoption and trading activity if the fund progresses to launch.
Separately, commentary appearing alongside market coverage raised questions about individual Nasdaq-related securities. For example, promotional material referenced NDAQ and tools that evaluate it using multiple financial metrics; that material described using AI to assess fundamentals, momentum, and valuation across many companies. The filing itself, however, focused narrowly on the ETF proposal and did not address broader promotional programs or evaluations.
BlackRock’s application places it in direct competition in a narrow segment of the ETF market where a handful of products provide direct, exclusive exposure to the Nasdaq-100, and where Invesco’s QQQ has been the primary incumbent.