Fidelity, BlackRock in ETF Partnership

Fidelity is raising the number of iShares ETFs that can be traded commission-free to 65 from 30.

The BlackRock-Fidelity partnership comes after Charles Schwab (NYSE: SCHW) earlier this year announced a new platform that will allow investors to trade over 100 ETFs commission-free. The Schwab platform did not include iShares ETFs. [Schwab Unveils Commission-Free ETF Platform]

Fidelity manages one ETF currently, Fidelity Nasdaq Composite Index (NasdaqGM: ONEQ), but the firm is expected to expand its lineup following the hire of State Street (NYSE: STT) veteran Tony Rochte.

Last year, reports surfaced that Fidelity was launching a new ETF business based in Denver headed by Rochte.

Fidelity has filed to launch actively managed exchange traded funds and its first ETF offering in the series is expected to be a corporate bond fund. [Fidelity Hires ETF Product Expert]