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

CoinFeed reported on April 6th that BlackRock is eyeing a segment of the $13.7 trillion US ETF market long dominated by Invesco: tracking the Nasdaq 100 index. According to a filing with the US Securities and Exchange Commission (SEC) on Monday, the iShares Nasdaq 100 ETF will track this index, trading under the ticker symbol IQQ. If launched, IQQ will be one of the few US-listed ETFs solely tracking the Nasdaq 100 index, and the first of its kind not managed by Invesco. The Nasdaq exchange has been cautious in authorizing the use of the index since its launch in 1985. While ETFs that incorporate Nasdaq 100 constituent stocks through derivatives exist in the US market, Invesco has virtually monopolized the pure Nasdaq 100 index ETF market.