The BetaShares Nasdaq 100 ETF (ASX: NDQ) has been caught up in the recent market selloff, with its units falling 12% from their highs.

This sharp and sudden downturn has been triggered by US President Donald Trump's announcement of sweeping trade tariffs, sparking renewed fears of a global trade war.

While these headlines have rattled investors, long-term investors are likely to see this pullback as a compelling buying opportunity. Let's take a closer look at why this ASX ETF could be a great addition to your portfolio at current levels.

A short-term selloff in a long-term winner

The Nasdaq 100 index, which the BetaShares Nasdaq 100 ETF tracks, is home to some of the world's most innovative and dominant companies.

This includes Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), Nvidia (NASDAQ: NVDA), Amazon (NASDAQ: AMZN), and Google's parent company, Alphabet (NASDAQ: GOOG). These companies have been at the forefront of technological advancements, generating strong revenue growth and high-profit margins over the years.

Market volatility is nothing new for tech-heavy indices like the Nasdaq 100. Short-term corrections can be unsettling, but history shows that they often present some of the best buying opportunities.

Over the past decade, the Nasdaq 100 has endured multiple pullbacks, yet it has consistently rebounded to new highs as technology continues to drive the global economy forward.

A rare chance to buy at a discount

Despite the recent selloff, the long-term fundamentals of the Nasdaq 100 remain intact. Many of its top constituents continue to post strong earnings growth, invest heavily in artificial intelligence, cloud computing, and automation, and expand their market reach.

By buying the BetaShares Nasdaq 100 ETF at current levels, investors have a chance to gain exposure to some of the world's most successful companies at a deep discount to what others were willing to pay only a matter of weeks ago. While short-term volatility may persist, those willing to adopt a long-term mindset could benefit significantly when investor sentiment improves and the market rebounds.

Foolish takeaway

Trying to time the bottom of the market is difficult, but history suggests that corrections in high-quality assets like the Nasdaq 100 often prove to be buying opportunities. With the BetaShares Nasdaq 100 ETF trading 12% below its recent high, now could be the perfect time for investors to consider adding it to their portfolios.

For those who believe in the long-term growth of technology and innovation, this latest selloff may not be a reason to panic, but rather a chance to buy one of the best-performing ETFs on the ASX at a bargain price.