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BlackRock is focusing on a long-standing niche area in the US ETF market with assets under management of $13.7 trillion: tracking the Nasdaq 100 index, which has been dominated by Invesco. According to documents submitted to the US Securities and Exchange Commission (SEC) on Monday, the iShares Nasdaq 100 ETF will track this index with the trading code IQQ. If the fund is launched, IQQ will be one of the few US-listed ETFs dedicated to tracking the Nasdaq 100 index, and the first similar product not managed by Invesco. Since the Nasdaq Exchange introduced the index in 1985, it has been cautious in authorizing its use. While there are ETF products in the US market that overlay derivatives with Nasdaq 100 component stocks, Invesco has almost monopolized the market for pure Nasdaq 100 index ETFs. This collaboration has led to the creation of the Invesco QQQ Trust with assets totaling $374 billion, one of the world's largest ETFs, as well as the Invesco Nasdaq 100 ETF with assets totaling $70 billion (QQQM).