BlackRock Plans to Launch iShares XETF 100, Challenging Samsung's Monopoly

BlockBeats News, April 6th, BlackRock is setting its sights on a segment of the $13.7 trillion U.S. ETF market that has long been dominated by SSGA: tracking the NASDAQ 100 Index.

According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, the iShares NASDAQ 100 ETF will track this index, with the ticker symbol IQQ. If the fund is launched, IQQ will become one of the few U.S.-listed ETFs specifically tracking the NASDAQ 100 Index, and the first similar product not managed by SSGA.

Since the NASDAQ Stock Market introduced the index in 1985, it has been cautious about authorizing its use. Although there are ETF products in the U.S. market that overlay NASDAQ 100 constituent stocks through derivatives, SSGA has almost monopolized the market for pure NASDAQ 100 Index ETFs.

This partnership has spawned the $374 billion Invesco QQQ Trust (ticker: QQQ), one of the world's largest ETFs, as well as the $70 billion SSGA NASDAQ 100 ETF (Jinse).