State Street’s Gold Fund Is ETF Land’s Biggest Cash Machine
- GLD revenue of more than $300 million beats market leader SPY
- Record gold demand, high fees boost profits, says Geraci
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This year’s frenzied rush for gold is turning out to be quite a boon for State Street Corp.
The Boston-based firm’s $78 billion SPDR Gold Shares exchange-traded fund, ticker GLD, is now making more money than any other product in the $4.6 trillion U.S. ETF market.