TechFlow News, April 6: According to JIN10 Data, BlackRock is setting its sights on a niche segment of the $13.7 trillion U.S. ETF market long dominated by Invesco—ETFs tracking the Nasdaq-100 Index. Per documents filed with the U.S. Securities and Exchange Commission (SEC) on Monday, the iShares Nasdaq-100 ETF will track this index under the ticker symbol IQQ. If launched, IQQ would become one of only a few U.S.-listed ETFs dedicated solely to tracking the Nasdaq-100 Index—and the first such ETF not managed by Invesco. Since launching the index in 1985, Nasdaq has maintained strict control over its licensing. While some U.S. ETFs replicate the Nasdaq-100 Index using derivatives layered atop its constituent stocks, Invesco has held near-exclusive dominance over “pure” Nasdaq-100 Index ETFs. This partnership has yielded the Invesco QQQ Trust, Series 1 (ticker: QQQ), with assets under management totaling $374 billion—the world’s largest ETF—and the Invesco Nasdaq-100 ETF (ticker: QQQM), with $70 billion in assets.
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