# EDGAR Filing Document

**Accession Number:** 0001761055
**File Stem:** 0001410368-25-010100
**Filing Date:** 2025-9
**Character Count:** 37887
**Document Hash:** 4db50c450d42345ea1c50c64eb24ec50
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-010100.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0001410368-25-010100

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250924

**DATE AS OF CHANGE**: 20250924

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock ETF Trust
- **CENTRAL INDEX KEY:** 0001761055

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23402
- **FILM NUMBER:** 251338561

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 8004417762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

## Series and Classes Contracts Data

### iShares Infrastructure Active ETF (Series ID: S000093569)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000261957 | iShares Infrastructure Active ETF |  |

## Nport-Ex

July 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **BlackRock ETF Trust** |
| • iShares Infrastructure Active ETF \| BILT \| Cboe BZX Exchange |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

July 31, 2025

**iShares Infrastructure Active ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Capital Markets — 0.3%** | **Capital Markets — 0.3%** | **Capital Markets — 0.3%** |
| DigitalBridge Group Inc. | &nbsp;&nbsp;&nbsp; 2280 | $24487 |
| **Construction & Engineering — 0.5%** | **Construction & Engineering — 0.5%** | **Construction & Engineering — 0.5%** |
| Vinci SA | &nbsp;&nbsp;&nbsp; 350 | 48618 |
| **Diversified Telecommunication Services — 1.6%** | **Diversified Telecommunication Services — 1.6%** | **Diversified Telecommunication Services — 1.6%** |
| Cellnex Telecom SA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2970 | 104810 |
| Infrastrutture Wireless Italiane SpA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5030 | 59466 |
|  |  | 164276 |
| **Electric Utilities — 34.6%** | **Electric Utilities — 34.6%** | **Electric Utilities — 34.6%** |
| Alliant Energy Corp. | &nbsp;&nbsp;&nbsp; 1680 | 109217 |
| American Electric Power Co. Inc. | &nbsp;&nbsp;&nbsp; 3360 | 380150 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp;&nbsp; 9500 | 66908 |
| Duke Energy Corp. | &nbsp;&nbsp;&nbsp; 2300 | 279772 |
| Enel SpA | &nbsp;&nbsp;&nbsp; 13840 | 122045 |
| Entergy Corp. | &nbsp;&nbsp;&nbsp; 3470 | 313792 |
| Evergy Inc. | &nbsp;&nbsp;&nbsp; 3500 | 247800 |
| FirstEnergy Corp. | &nbsp;&nbsp;&nbsp; 5180 | 221238 |
| Fortis Inc./Canada | &nbsp;&nbsp;&nbsp; 2780 | 136031 |
| Kyushu Electric Power Co. Inc. | &nbsp;&nbsp;&nbsp; 14000 | 124111 |
| NextEra Energy Inc. | &nbsp;&nbsp;&nbsp; 5200 | 369512 |
| PG&E Corp. | &nbsp;&nbsp;&nbsp; 14850 | 208197 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp; 980 | 88808 |
| PPL Corp. | &nbsp;&nbsp;&nbsp; 3990 | 142403 |
| Southern Co. (The) | &nbsp;&nbsp;&nbsp; 3270 | 308949 |
| SSE PLC | &nbsp;&nbsp;&nbsp; 2020 | 49515 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;&nbsp; 9980 | 96566 |
| Xcel Energy Inc. | &nbsp;&nbsp;&nbsp; 2790 | 204898 |
|  |  | 3469912 |
| **Gas Utilities — 0.9%** | **Gas Utilities — 0.9%** | **Gas Utilities — 0.9%** |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp;&nbsp; 3500 | 88555 |
| **Ground Transportation — 11.0%** | **Ground Transportation — 11.0%** | **Ground Transportation — 11.0%** |
| Canadian National Railway Co. | &nbsp;&nbsp;&nbsp; 2000 | 186750 |
| Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp;&nbsp; 1140 | 83838 |
| CSX Corp. | &nbsp;&nbsp;&nbsp; 5780 | 205421 |
| Norfolk Southern Corp. | &nbsp;&nbsp;&nbsp; 820 | 227960 |
| Union Pacific Corp. | &nbsp;&nbsp;&nbsp; 1440 | 319637 |
| West Japan Railway Co. | &nbsp;&nbsp;&nbsp; 3400 | 74440 |
|  |  | 1098046 |
| **Independent Power and Renewable Electricity Producers — 0.5%** | **Independent Power and Renewable Electricity Producers — 0.5%** | **Independent Power and Renewable Electricity Producers — 0.5%** |
| Northland Power Inc. | &nbsp;&nbsp;&nbsp; 3010 | 49182 |
| **Multi-Utilities — 11.5%** | **Multi-Utilities — 11.5%** | **Multi-Utilities — 11.5%** |
| Ameren Corp. | &nbsp;&nbsp;&nbsp; 2170 | 219452 |
| CenterPoint Energy Inc. | &nbsp;&nbsp;&nbsp; 4560 | 177019 |
| Dominion Energy Inc. | &nbsp;&nbsp;&nbsp; 2120 | 123914 |
| National Grid PLC | &nbsp;&nbsp;&nbsp; 20660 | 290316 |
| Public Service Enterprise Group Inc. | &nbsp;&nbsp;&nbsp; 2320 | 208313 |
| Sempra | &nbsp;&nbsp;&nbsp; 1660 | 135589 |
|  |  | 1154603 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Oil, Gas & Consumable Fuels — 14.1%** | **Oil, Gas & Consumable Fuels — 14.1%** | **Oil, Gas & Consumable Fuels — 14.1%** |
| Cheniere Energy Inc. | &nbsp;&nbsp;&nbsp; 1080 | $254750 |
| Enbridge Inc. | &nbsp;&nbsp;&nbsp; 2990 | 135409 |
| Kinetik Holdings Inc., Class A | &nbsp;&nbsp;&nbsp; 1430 | 62033 |
| Koninklijke Vopak NV | &nbsp;&nbsp;&nbsp; 3160 | 150956 |
| Pembina Pipeline Corp. | &nbsp;&nbsp;&nbsp; 3050 | 113363 |
| Plains GP Holdings LP, Class A | &nbsp;&nbsp;&nbsp; 2550 | 49980 |
| TC Energy Corp. | &nbsp;&nbsp;&nbsp; 5680 | 271210 |
| Williams Companies Inc. (The) | &nbsp;&nbsp;&nbsp; 6330 | 379484 |
|  |  | 1417185 |
| **Specialized REITs — 4.9%** | **Specialized REITs — 4.9%** | **Specialized REITs — 4.9%** |
| American Tower Corp. | &nbsp;&nbsp;&nbsp; 690 | 143789 |
| Crown Castle Inc. | &nbsp;&nbsp;&nbsp; 2870 | 301608 |
| Equinix Inc. | &nbsp;&nbsp;&nbsp; 60 | 47110 |
|  |  | 492507 |
| **Transportation Infrastructure — 16.0%** | **Transportation Infrastructure — 16.0%** | **Transportation Infrastructure — 16.0%** |
| Aena SME SA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 24230 | 652468 |
| Aeroports de Paris SA | &nbsp;&nbsp;&nbsp; 770 | 93458 |
| Atlas Arteria Ltd. | &nbsp;&nbsp;&nbsp; 6020 | 19885 |
| Flughafen Zurich AG, Registered | &nbsp;&nbsp;&nbsp; 260 | 73278 |
| Japan Airport Terminal Co. Ltd. | &nbsp;&nbsp;&nbsp; 3300 | 100220 |
| Transurban Group | &nbsp;&nbsp;&nbsp; 75450 | 667719 |
|  |  | 1607028 |
| **Water Utilities — 3.0%** | **Water Utilities — 3.0%** | **Water Utilities — 3.0%** |
| Essential Utilities Inc. | &nbsp;&nbsp;&nbsp; 3550 | 130640 |
| Guangdong Investment Ltd. | &nbsp;&nbsp;&nbsp; 112000 | 99690 |
| Severn Trent PLC | &nbsp;&nbsp;&nbsp; 2050 | 71888 |
|  |  | 302218 |
| **Total Long-Term Investments — 98.9%** <br>**(Cost: $9,924,964)** | **Total Long-Term Investments — 98.9%** <br>**(Cost: $9,924,964)** | 9916617 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.8%** | **Money Market Funds — 1.8%** | **Money Market Funds — 1.8%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.30%<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 180000 | 180000 |
| **Total Short-Term Securities — 1.8%** <br>**(Cost: $180,000)** | **Total Short-Term Securities — 1.8%** <br>**(Cost: $180,000)** | 180000 |
| **Total Investments — 100.7%** <br>**(Cost: $10,104,964)** | **Total Investments — 100.7%** <br>**(Cost: $10,104,964)** | 10096617 |
| **Liabilities in Excess of Other Assets — (0.7)%** | **Liabilities in Excess of Other Assets — (0.7)%** | (70522)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $10026095 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(b)</sup> Affiliate of the Fund.

<sup>(c)</sup> Annualized 7-day yield as of period end.

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**iShares Infrastructure Active ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/29/25*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/25*<br>| *Shares* <br>*Held at* <br>*07/31/25*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency Shares | $—<br> &nbsp;&nbsp; $180000 <br><sup>(b)</sup><br>| $— | $— | $— | $180000 | 180000 | $21 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations.

<sup>(b)</sup> Represents net amount purchased (sold).

**Derivative Financial Instruments Outstanding as of Period End**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| KRW | 39843000 | USD | 28652 | BNP Paribas SA | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $19 |
| USD | 44484 | AUD | 69000 | HSBC Bank PLC | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| USD | 247190 | EUR | 215000 | Bank of America N.A. | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 663 |
| USD | 25511 | JPY | 3810000 | Bank of America N.A. | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 |
| USD | 30752 | JPY | 4592000 | HSBC Bank PLC | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 864 |
| CAD | 103000 | USD | 74766 | Bank of America N.A. | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(159)<br>|
| CHF | 61000 | USD | 75780 | BNP Paribas SA | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| GBP | 4000 | USD | 5295 | BNP Paribas SA | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| NZD | 345000 | USD | 204186 | BNP Paribas SA | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (424)<br>|
| SGD | 7000 | USD | 5425 | HSBC Bank PLC | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| USD | 22043 | HKD | 172000 | Bank of America N.A. | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (606)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $258 |

---

**Fair Value Hierarchy as of Period End** 

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**iShares Infrastructure Active ETF**

**Fair Value Hierarchy as of Period End (continued)**

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; $6861705 | &nbsp;&nbsp; $3054912 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $9916617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 180000 |
|  | &nbsp;&nbsp; $7041705 | &nbsp;&nbsp; $3054912 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $10096617 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $864 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $864 |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (606)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (606)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $258 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $258 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are forward foreign currency exchange contracts. Forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** BlackRock ETF Trust

- **b. Investment Company Act file number:** 811-23402

- **c. CIK number of Registrant:** 0001761055

- **d. LEI of Registrant:** 5493007WBHAKV9JVS642

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 BELLEVUE PARKWAY

  - **City:** WILMINGTON

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

**Item A.2. Information about the Series.**

- **a. Name of Series:** iShares Infrastructure Active ETF

- **b. EDGAR series identifier (if any):** S000093569

- **c. LEI of Series:** 529900KN5ITT0C5N1428

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $10026240.75

**Total Liabilities:** $329.77

**Net Assets:** $10025910.98

**Cash Not Reported:** $489.99

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000261957 |  |  | -0.08%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $0.00                    | $-8329.49                                  |

### Schedule of Portfolio Investments

| Name                                           | Title                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Plains GP Holdings LP                          | Plains GP Holdings LP                            | CUSIP: 72651A207<br>LEI: 549300O56BSKRD8FAM12 | Long             | EC               | CORP              | US        |      2550 | NS      | $49980.00     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc                 | American Electric Power Co Inc                   | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      3360 | NS      | $380150.40    | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                            | Dominion Energy Inc                              | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |      2120 | NS      | $123914.00    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                             | Union Pacific Corp                               | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      1440 | NS      | $319636.80    | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                             | NextEra Energy Inc                               | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5200 | NS      | $369512.00    | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Terna - Rete Elettrica Nazionale               | Terna - Rete Elettrica Nazionale                 | CUSIP: 000000000<br>LEI: 8156009E94ED54DE7C31 | Long             | EC               | CORP              | IT        |      9980 | NS      | $96565.94     | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Aeroports de Paris SA                          | Aeroports de Paris SA                            | CUSIP: 000000000<br>LEI: 969500PJMBSFHYC37989 | Long             | EC               | CORP              | FR        |       770 | NS      | $93458.33     | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Williams Cos Inc/The                           | Williams Cos Inc/The                             | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      6330 | NS      | $379483.50    | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Severn Trent PLC                               | Severn Trent PLC                                 | CUSIP: 000000000<br>LEI: 213800RPBXRETY4A4C59 | Long             | EC               | CORP              | GB        |      2050 | NS      | $71887.99     | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Xcel Energy Inc                                | Xcel Energy Inc                                  | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |      2790 | NS      | $204897.60    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc                            | Cheniere Energy Inc                              | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      1080 | NS      | $254750.40    | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                                       | PPL Corp                                         | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |      3990 | NS      | $142403.10    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                                | Southern Co/The                                  | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      3270 | NS      | $308949.60    | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc                                   | Enbridge Inc                                     | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |      2990 | NS      | $135408.85    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp                          | Norfolk Southern Corp                            | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |       820 | NS      | $227960.00    | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                       | Enel SpA                                         | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |     13840 | NS      | $122045.05    | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| American Tower Corp                            | American Tower Corp                              | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |       690 | NS      | $143789.10    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Pembina Pipeline Corp                          | Pembina Pipeline Corp                            | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Long             | EC               | CORP              | CA        |      3050 | NS      | $113362.44    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Northland Power Inc                            | Northland Power Inc                              | CUSIP: 666511100<br>LEI: 8945002IJ77NEBK48M81 | Long             | EC               | CORP              | CA        |      3010 | NS      | $49181.87     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp                     | Pinnacle West Capital Corp                       | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |       980 | NS      | $88807.60     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp                                   | Entergy Corp                                     | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      3470 | NS      | $313792.10    | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                         | Sempra                                           | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |      1660 | NS      | $135588.80    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                               | Crown Castle Inc                                 | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |      2870 | NS      | $301608.30    | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cellnex Telecom SA                             | Cellnex Telecom SA                               | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |      2970 | NS      | $104809.87    | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Osaka Gas Co Ltd                               | Osaka Gas Co Ltd                                 | CUSIP: 000000000<br>LEI: 353800024KMNOPQRWZ02 | Long             | EC               | CORP              | JP        |      3000 | NS      | $75903.99     | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Vopak NV                           | Koninklijke Vopak NV                             | CUSIP: 000000000<br>LEI: 724500UL634GFV1KYF10 | Long             | EC               | CORP              | NL        |      3160 | NS      | $150956.27    | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Aena SME SA                                    | Aena SME SA                                      | CUSIP: 000000000<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |     24230 | NS      | $652468.08    | 6.51%             |  |  |  | No            |                  2 | On Loan: No      |
| SSE PLC                                        | SSE PLC                                          | CUSIP: 000000000<br>LEI: 549300KI75VYLLMSK856 | Long             | EC               | CORP              | GB        |      2020 | NS      | $49514.70     | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Guangdong Investment Ltd                       | Guangdong Investment Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |    100000 | NS      | $89008.97     | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Alliant Energy Corp                            | Alliant Energy Corp                              | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |      1680 | NS      | $109216.80    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Arteria Ltd                              | Atlas Arteria Ltd                                | CUSIP: 000000000<br>LEI: 254900SGF4ZQDBH2YC59 | Long             | EC               | CORP              | AU        |      6020 | NS      | $19885.15     | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Evergy Inc                                     | Evergy Inc                                       | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |      3500 | NS      | $247800.00    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                                      | PG&E Corp                                        | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |     14850 | NS      | $208197.00    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| West Japan Railway Co                          | West Japan Railway Co                            | CUSIP: 000000000<br>LEI: 353800QGUXHZ7EBCR121 | Long             | EC               | CORP              | JP        |      3000 | NS      | $65682.66     | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Airport Terminal Co Ltd                  | Japan Airport Terminal Co Ltd                    | CUSIP: 000000000<br>LEI: 353800W9WEQSGUY2EO26 | Long             | EC               | CORP              | JP        |      3000 | NS      | $91108.87     | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| CSX Corp                                       | CSX Corp                                         | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |      5780 | NS      | $205421.20    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities Inc                        | Essential Utilities Inc                          | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |      3550 | NS      | $130640.00    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc                         | CenterPoint Energy Inc                           | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |      4560 | NS      | $177019.20    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp                               | FirstEnergy Corp                                 | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |      5180 | NS      | $221237.80    | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                               | Duke Energy Corp                                 | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      2300 | NS      | $279772.00    | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                                    | Ameren Corp                                      | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |      2170 | NS      | $219452.10    | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyushu Electric Power Co Inc                   | Kyushu Electric Power Co Inc                     | CUSIP: 000000000<br>LEI: 549300BYNZPLKQVQH430 | Long             | EC               | CORP              | JP        |     14000 | NS      | $124111.33    | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Vinci SA                                       | Vinci SA                                         | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |       350 | NS      | $48618.06     | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | BlackRock Cash Funds: Treasury, SL Agency Shares | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |    180000 | NS      | $180000.00    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                                 | TC Energy Corp                                   | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |      5680 | NS      | $271210.16    | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinetik Holdings Inc                           | Kinetik Holdings Inc                             | CUSIP: 02215L209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1430 | NS      | $62033.40     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Infrastrutture Wireless Italiane SpA           | Infrastrutture Wireless Italiane SpA             | CUSIP: 000000000<br>LEI: 81560066183FE361C071 | Long             | EC               | CORP              | IT        |      5030 | NS      | $59466.14     | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| CK Infrastructure Holdings Ltd                 | CK Infrastructure Holdings Ltd                   | CUSIP: 000000000<br>LEI: 5299005U11RQ1C27MR12 | Long             | EC               | CORP              | BM        |      5000 | NS      | $35214.94     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Flughafen Zurich AG                            | Flughafen Zurich AG                              | CUSIP: 000000000<br>LEI: 529900PFO97GCN5SYB55 | Long             | EC               | CORP              | CH        |       260 | NS      | $73277.51     | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Transurban Group                               | Transurban Group                                 | CUSIP: 000000000<br>LEI: 549300ZR71SUQ4VUTM79 | Long             | EC               | CORP              | AU        |     75450 | NS      | $667719.09    | 6.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian National Railway Co                   | Canadian National Railway Co                     | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |      2000 | NS      | $186749.42    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortis Inc/Canada                              | Fortis Inc/Canada                                | CUSIP: 349553107<br>LEI: 549300MQYQ9Y065XPR71 | Long             | EC               | CORP              | CA        |      2780 | NS      | $136030.60    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                              | National Grid PLC                                | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |     20660 | NS      | $290315.75    | 2.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Equinix Inc                                    | Equinix Inc                                      | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |        60 | NS      | $47110.20     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group Inc                        | DigitalBridge Group Inc                          | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |      2280 | NS      | $24487.20     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City Ltd               | Canadian Pacific Kansas City Ltd                 | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1140 | NS      | $83838.05     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Group Inc            | Public Service Enterprise Group Inc              | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |      2320 | NS      | $208312.80    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-29

**Name of Applicant:** BlackRock ETF Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer