At the time of writing, the top three providers of exchange-traded funds in the United States were Blackrock, Vanguard, and State Street which accounted for almost 80% of the market. How does such concentration relate to economies of scale?

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The Answer of At the time of writing, the top three providers of exchange-traded funds in the United States were Blackrock, Vanguard, and State Street which accounted for almost 80% of the market. How does such concentration relate to economies of scale?

At the Time of Writing, the Top Three Providers of Exchange-Traded