BlackRock to launch Nasdaq-100 ETF, challenging Invesco's dominance as AI rally boosts demand

BlackRock announced the launch of an iShares Nasdaq-100 ETF starting Thursday with an initial NAV of around $24 per share, directly competing with Invesco's dominant QQQ franchise. The launch comes amid surging investor demand driven by the AI-led rally, with the Nasdaq-100 posting its best quarter since April 2020 in the three months ended June 2025. State Street also launched a competing Nasdaq-100 ETF last month, intensifying competition in the US tech-ETF space.