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BlackRock, State Street Target Invesco’s $379 Billion Tech Grip

Vildana Hajric, Katie Greifeld
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⚡ Quantum Brief
Wall Street giants BlackRock and State Street are challenging Invesco’s dominance over the $379 billion Nasdaq 100 ETF market, filing competing funds within days of each other in April 2026. BlackRock initiated the move by submitting regulatory paperwork for a Nasdaq 100-tracking ETF, directly targeting Invesco’s long-standing monopoly on the tech-focused index. State Street followed immediately, proposing the SPDR Nasdaq 100 ETF—its first fund tied to the index—escalating competition among the top three U.S. ETF issuers. Invesco’s QQQ fund, the current market leader, holds near-exclusive access to the Nasdaq 100, making this a high-stakes battle for control of tech-driven investment flows. The aggressive bids reflect intensifying rivalry in passive investing, as firms vie for dominance in one of the most lucrative and high-profile ETF segments.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000US Stocks:Invesco headquarters in Atlanta.Wall Street’s biggest ETF issuers are circling Invesco Ltd.’s Nasdaq 100 franchise, threatening to end its near-exclusive hold on the index.Just a day after BlackRock Inc. filed a challenger to Invesco’s Nasdaq 100-tracking ETF, State Street Corp. followed suit. On Tuesday, it submitted paperwork to launch the State Street SPDR Nasdaq 100 ETF, which would be its first fund focused on the tech-heavy gauge.

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