BlackRock plans to launch a Nasdaq 100 ETF to challenge Invesco's monopoly.

BlackRock is eyeing a segment of the $13.7 trillion U.S. ETF market long dominated by Invesco: tracking the Nasdaq 100 index. According to a filing with the Securities and Exchange Commission (SEC) on Monday, the iShares Nasdaq 100 ETF, trading under the ticker symbol IQQ, will track this index. If launched, IQQ will be one of the few U.S.-listed ETFs solely tracking the Nasdaq 100, and the first of its kind not managed by Invesco. The Nasdaq exchange has been cautious in its licensing of the index since its inception in 1985. While ETFs that incorporate Nasdaq 100 constituent stocks through derivatives exist in the U.S. market, Invesco has virtually monopolized the pure Nasdaq 100 ETF market. This partnership gave rise to the Invesco QQQ Trust Series 1 (ticker symbol QQQ), a $374 billion ETF, one of the world's largest ETFs, and the Invesco Nasdaq 100 ETF (QQQM), with $70 billion in assets. (Jinshi)