BlackRock announced it will launch a new exchange-traded fund (ETF) tracking the Nasdaq-100 index, aiming to capitalize on the surge in investor interest driven by the AI stock market rally. The iShares Nasdaq 100 ETF will begin trading on Thursday, marking the asset manager's latest move to expand its presence in technology-focused investment products, according to livemint.com.
The new ETF will track the flagship U.S. technology-heavy Nasdaq-100 index, which includes major AI and tech companies. BlackRock, the world's largest asset manager, currently manages over $41 billion through other Nasdaq 100-related products such as the iShares Nasdaq Top 30 Stocks ETF and the iShares Nasdaq Premium Income Active ETF. The launch follows a strategic decision to meet growing demand for AI exposure in equity markets, as detailed by livemint.com.
This launch positions BlackRock to challenge Invesco's dominance in the Nasdaq-100 ETF segment, where Invesco's products have traditionally held a strong market share. The move reflects broader market trends where AI-driven stocks have attracted significant investor capital, prompting asset managers to introduce new products that offer targeted exposure. The Nasdaq-100 index remains a key benchmark for technology and innovation-focused investments, as noted by livemint.com.
The iShares Nasdaq 100 ETF will start trading under its ticker symbol on Thursday, expanding BlackRock's suite of Nasdaq-focused investment options. This addition comes as BlackRock seeks to leverage the ongoing AI rally to attract fresh inflows into its ETF offerings, according to livemint.com.