Nasdaq today announced that it will transfer sponsorship of its ETFs to PowerShares Capital Management LLC.

PowerShares, a company owned by Amvescap plc, and Nasdaq Global Funds Inc., a subsidiary of the Nasdaq Stock Market Inc., announced an agreement to transfer sponsorship of the Nasdaq-100 Index Tracking Stock, also known as the QQQ, the Nasdaq-100 European Tracker, and the four BLDRS index funds (BLDRS is a series of ETFs based on The Bank of New York ADR Indexes).

The firms say that the transaction significantly expands the distribution channels for the funds and will bring greater investor education and access to these products.

“We are extremely pleased to expand our existing strategic relationship with the Nasdaq stock market,” said Bruce Bond, president of PowerShares. “Being the most heavily traded exchange traded fund in the world, QQQ provides shareholders with unprecedented diversified access to Nasdaq companies.”

“PowerShares has a strong track record of providing compelling portfolios and investment tools for advisers and investors,” said John Jacobs, CEO of Nasdaq Global Funds. “The addition of these successful investment products to PowerShares’ family of exchange traded funds underscores their commitment to sound portfolio construction and investment management approaches. This decision is another important step to elevate Nasdaq’s growing and significant leadership in the equification of America.”

Pending U.S. Securities and Exchange Commission and other regulatory approvals, sponsorship of the funds will be moved to PowerShares. The transactions are expected to be completed by June 30, 2007.