As new competitors continue to flood the market with exchange-traded funds, established players like Barclays Global Investors, State Street Global Advisors and Vanguard are adjusting their lineups and launching products to maintain their dominant market share.

Four companies - Barclays (58.4%), State Street (26%), Bank of New York's Hamilton Funds (8.4%), and Vanguard (4.6%) - dominate the industry, managing 97.4% of the ETF market. However, their share has diminished 1.6 percentage points in the past year as more providers have entered the market, according to data from Financial Research Corp (FRC).

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