Exhibit (l)(4)

PURCHASE AGREEMENT

BlackRock ETF Trust II (the “Registrant”), a statutory trust under the laws of the State of Delaware, on behalf of its series BlackRock AAA CLO ETF (the “Fund”) and BlackRock Financial Management, Inc. (the “Purchaser”), a Delaware corporation, hereby agree as follows:

1.    The Registrant hereby offers the Purchaser and the Purchaser hereby purchases 2 shares of the Fund (the “Shares”) for $50 per Share. The Registrant hereby acknowledges receipt from the Purchaser of funds in full payment for the foregoing Shares.

2.    The Purchaser represents and warrants to the Registrant that the foregoing Shares are being acquired for investment purposes and not with a view to the distribution thereof.

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IN AGREEMENT WHEREOF, and intending to be legally bound hereby, the parties hereto have executed this Purchase Agreement as of the          day of                 , 202    .

BLACKROCK ETF TRUST II, on behalf of BlackRock AAA CLO ETF
By:
	Name: John Perlowski
	Title:   President and Chief Executive Officer
BLACKROCK FINANCIAL MANAGEMENT, INC.
By:
	Name: Trent Walker
	Title:   Managing Director