BlackRock launches iShares Nasdaq 100 ETF, challenging Jingshun's market position

According to Reuters, BlackRock has launched the iShares Nasdaq 100 ETF, stock code IQQ, which tracks the Nasdaq 100 index with an initial net asset value of $24 per share, and began trading on Thursday. This ETF challenges Jingshun's QQQ and QQQM ETFs, and State Street Bank launched QNDX last month. The Nasdaq revised its listing criteria to accelerate the inclusion of new listed companies in the index, and AI driven demand for technology stocks drove the Nasdaq 100 index to its best performance since April 2020 in the quarter ending in June. BlackRock manages over $41 billion in assets through other Nasdaq 100 strategies.