Nasdaq Delists Two Firms, BlackRock Launches 0.03% Nasdaq-100 ETF
NDAQ•Nasdaq Inc has notified Pitanium Limited and Platinum Analytics Cayman of anticipated delisting on July 16, halting their securities until potential appeals and shifting them to the OTC market if removal proceeds. BlackRock will introduce IQQ, a 0.03% expense Nasdaq-100 ETF, undercutting QQQ’s 0.20% fee and reducing index licensing royalties.
1. Delisting Notices for Two Issuers
The Nasdaq Stock Market has notified Pitanium Limited and Platinum Analytics Cayman that their securities will be delisted on July 16 unless they appeal to a Listing Qualifications Hearings Panel. Trading has been halted since October 18, 2025, under an SEC suspension, and the securities may trade OTC after removal.
2. BlackRock’s IQQ ETF Launch
BlackRock plans IQQ, a Nasdaq-100 index ETF with a 0.03% expense ratio, to begin trading in October, undercutting the 0.20% fee of the existing QQQ. The new fund could divert assets from Nasdaq-100–based products and reduce index licensing royalties.
3. Implications for Nasdaq Inc
The delisting actions demonstrate Nasdaq Inc’s regulatory authority but involve low-volume microcap names, while BlackRock’s ETF poses a strategic challenge to one of its primary recurring revenue streams. Market participants will watch asset flows and whether Nasdaq adjusts fee structures.
