State Street Global Advisors has registered 17 new exchange-traded funds with the SEC, Dow Jones reports. This would expand its current roster of 25 ETFs, 12 of which it has rolled out since November.
State Street's recent push to expand its ETF lineup is driven by a desire to expand its market share in the industry it pioneered in 1993 with the first ETF to come to market, the SPDR 500 Trust. State Street, which has $85 billion invested in its ETFs and a 28% market share of the $300 billion industry, is runner-up to Barclays Global Investors, the market leader. Barclays has $190 billion in its 102 iShares ETFs and a 63% market share.