I may be wrong but I assumed that they didn’t get fees on the...

I may be wrong but I assumed that they didn’t get fees on the initial investment of units (at the time $100m). I think they earn fees on any units created after listing regardless of the unit price.

Unless the seed investor pulls out, I think they will continue to run it for a while to see how the performance goes. At present the performance is close (just trailing) the Solactive 200 Index. Given huge volatility, over the next year we could see SELF either significantly outperform or underperform the index. If it significantly underperforms, it may well be pulled. If it significantly outperforms, this would be gold in terms of marketing to SMSFs etc.