Overview
- BlackRock announced the iShares Nasdaq 100 ETF, ticker IQQ, and set an initial NAV of $24 with a 0.12% gross expense ratio that is waived to 0.10% through July 31, 2027.
- The fund is scheduled to begin trading this week, with multiple reports saying IQQ will start on Thursday, July 9, 2026.
- State Street launched its own competing Nasdaq-100 product at the same time, creating direct price competition in a market long dominated by Invesco.
- Invesco’s QQQ and QQQM together hold more than $500 billion in assets and deep daily trading liquidity, which industry observers say will be the main obstacle for IQQ to attract large flows.
- The timing taps strong demand from an AI-led rally and recent index changes such as SpaceX’s addition, and BlackRock’s scale and past ETF launches give it a clear path to try to capture market share.