Asset manager BlackRock (BLK) has filed for a new exchange-traded fund that will track the tech-heavy Nasdaq‑100 Index (NDX), setting up a direct challenge to Invesco’s (IVZ) long‑held dominance in one of the most heavily traded areas of the ETF market. The move comes just days before BlackRock reports its Q1 earnings on April 10.
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NVDS: built for a short position on NVDAAccording to the SEC filing, the proposed iShares Nasdaq‑100 ETF would trade under the ticker “IQQ.” The company has not yet disclosed the fund’s management fee.
BlackRock already manages four Nasdaq‑100‑tracking ETFs internationally, but IQQ would be its first U.S.‑listed fund offering direct exposure to the index. The move will allow the firm to capture demand for large‑cap tech exposure at a time when the Nasdaq‑100 remains one of the most popular benchmarks for growth‑oriented investors seeking exposure to giants such as Nvidia (NVDA) and Apple (AAPL).
Direct Shot at Invesco’s Stronghold
The new ETF would compete directly with the Invesco QQQ Trust (QQQ), a nearly $376 billion giant that has held a near‑monopoly on pure Nasdaq‑100 exposure in the U.S. for nearly 40 years. Invesco also manages the $70 billion Invesco NASDAQ 100 ETF (QQQM).
Importantly, Nasdaq (NDAQ) has long been selective about licensing its namesake index, giving Invesco exclusive access since 1985. BlackRock’s filing is the first major break in that exclusivity and reflects that Nasdaq is now willing to broaden access to the benchmark.
Nasdaq said expanding access to the Nasdaq‑100 could improve efficiency, liquidity, and availability for investors, describing BlackRock’s entry as additive.
Competitive Shake-Up Ahead of Earnings
BlackRock is set to report earnings on Friday, April 10. Currently, analysts expect BLK to post revenue of $6.61 billion in Q1, up from $5.38 billion in the year-ago quarter. Further, the company is expected to report earnings of $12.16 per share, compared with earnings of $11.30 in the prior-year quarter.
The company’s Q1 results are likely to benefit from steady inflows into ETFs, solid demand for iShares products, and growing interest in fixed income and cash strategies as investors navigate rate uncertainty.
Investors will also watch for updates on BlackRock’s push into AI‑driven investment tools and its expanding ETF lineup, including its newly filed Nasdaq‑100 fund.
Is BLK Stock a Buy Now?
Turning to Wall Street, analysts have a Strong Buy consensus rating on BLK stock based on nine Buys and one Hold assigned in the past three months. Further, the average BlackRock price target of $1,305.20 per share implies 35.33% upside potential.
