BlackRock and State Street, the world's largest ETF issuers, are moving to challenge Invesco's near-exclusive hold on the Nasdaq 100 index. The firms are reportedly targeting Invesco's $379 billion Nasdaq 100 ETF franchise, signaling a significant shift in the competitive landscape of exchange-traded funds. This development comes as institutional investors increasingly demand access to the tech-heavy index through alternatives beyond Invesco's offerings, potentially fragmenting a market that has long been dominated by a single provider. BlackRock and State Street now aim to capture a substantial share of this lucrative niche, threatening Invesco's established position.