New Delhi, July 7 -- BlackRock said on Tuesday it would launch an exchange-traded fund tracking the technology-heavy Nasdaq-100 index, as it seeks to tap surging investor demand for exposure to the AI-driven stock market rally.

The iShares Nasdaq 100 ETF, offered by the world's largest asset manager, will track the flagship U.S. index and start trading under the ticker on Thursday, just months after the Nasdaq revised its criteria to accelerate the inclusion of newly listed companies such as SpaceX.

BlackRock's ETF will compete with asset manager Invesco's Nasdaq-100 franchise, which has long dominated the market for investors seeking access to large-cap growth and tech-heavy stocks through its QQQ Trust Series 1 and Nasdaq 100 ETFs. La...