Schedule of Investments  (unaudited) October 31, 2021 BlackRock Future Climate and Sustainable Economy ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Building Products — 6.8%
AZEK Co. Inc. (The)(a)		1,848	$	67,803
Cie. de Saint-Gobain		1,254		86,542
Johnson Controls International PLC		520		38,153
Kingspan Group PLC		456		52,497
Trane Technologies PLC		184		33,291
Trex Co. Inc.(a)(b)		583		62,031
				340,317
Capital Markets — 0.9%
Agronomics Ltd.(a)		114,948		44,047
Chemicals — 17.7%
Corbion NV		2,098		99,618
Ecolab Inc.		680		151,110
FMC Corp.		1,280		116,493
Koninklijke DSM NV		740		161,674
Nutrien Ltd.		1,298		90,743
Robertet SA, NVS		84		92,249
Sika AG, Registered		144		48,784
Symrise AG		932		128,916
				889,587
Commercial Services & Supplies — 1.7%
Tomra Systems ASA		1,292		83,503
Communications Equipment — 2.4%
Samsung SDI Co. Ltd., GDR NVS(c)		764		119,178
Construction & Engineering — 1.0%
Quanta Services Inc.		412		49,967
Containers & Packaging — 7.3%
Ball Corp.		1,216		111,240
Crown Holdings Inc.		1,496		155,569
SIG Combibloc Group AG		3,929		102,754
				369,563
Electric Utilities — 6.0%
Enel SpA		17,464		146,205
NextEra Energy Inc.		1,809		154,362
				300,567
Electrical Equipment — 6.6%
Ballard Power Systems Inc.(a)(b)		2,506		45,409
Prysmian SpA		1,044		39,472
Schneider Electric SE		413		71,209
Sunrun Inc.(a)		885		51,047
Vestas Wind Systems A/S		1,851		80,018
Xinjiang Goldwind Science & Technology Co. Ltd., Class H		20,000		44,726
				331,881
Electronic Equipment, Instruments & Components — 7.2%
Azbil Corp.		900		38,369
Hexagon AB, Class B		2,252		36,243
Keyence Corp.		200		120,723
Rogers Corp.(a)		198		39,822
TE Connectivity Ltd.		256		37,376
Zebra Technologies Corp., Class A(a)		163		87,034
				359,567
Food & Staples Retailing — 2.6%
HelloFresh SE(a)		1,060		85,901
Ocado Group PLC(a)		1,908		47,091
				132,992

Security	Shares		Value
Food Products — 9.2%
Bunge Ltd.		1,580	$	146,371
Darling Ingredients Inc.(a)		716		60,516
Kerry Group PLC, Class A		850		114,080
Maple Leaf Foods Inc.		3,748		81,707
Salmar ASA		773		58,973
				461,647
Independent Power and Renewable Electricity Producers — 3.8%
EDP Renovaveis SA		5,444		151,668
Scatec ASA		1,926		37,990
				189,658
Machinery — 9.5%
Ag Growth International Inc.		2,856		62,769
Atlas Copco AB, Class A		548		35,291
Deere & Co.		416		142,401
Hydrofarm Holdings Group Inc.(a)		979		32,278
Ingersoll Rand Inc.(a)		715		38,438
John Bean Technologies Corp.		516		76,239
Marel HF(c)		13,252		88,852
				476,268
Paper & Forest Products — 3.7%
Mondi PLC		2,314		57,789
UPM-Kymmene OYJ		3,636		128,318
				186,107
Professional Services — 2.5%
Bureau Veritas SA		4,046		128,602
Semiconductors & Semiconductor Equipment — 6.7%
Analog Devices Inc.		233		40,423
Canadian Solar Inc.(a)		1,148		47,699
First Solar Inc.(a)		432		51,663
Infineon Technologies AG		3,232		151,359
ON Semiconductor Corp.(a)		956		45,955
				337,099
Software — 3.0%
ANSYS Inc.(a)		100		37,958
Autodesk Inc.(a)		232		73,685
Dassault Systemes SE		676		39,477
				151,120
Total Common Stocks — 98.6% (Cost: $4,915,091)				4,951,670
Short-Term Investments
Money Market Funds — 5.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.05%(d)(e)(f)		105,415		105,467
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(d)(e)		150,000		150,000
				255,467
Total Short-Term Investments — 5.1% (Cost: $255,467)				255,467
Total Investments in Securities — 103.7% (Cost: $5,170,558)				5,207,137
Other Assets, Less Liabilities — (3.7)%				(186,615	)
Net Assets — 100.0%			$	5,020,522

^(a)  Non-income producing security.

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Schedule of Investments  (unaudited) (continued) October 31, 2021 BlackRock Future Climate and Sustainable Economy ETF

^(b) All or a portion of this security is on loan.

^(c)  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.

^(d)  Affiliate of the Fund.

^(e)  Annualized 7-day yield as of period end.

^(f)  All or a portion of this security was purchased with the cash collateral from loaned securities.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at   08/03/21(a)		Purchases at Cost			Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 10/31/21		Shares Held at 10/31/21		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares		$        —		$105,467	(b)	$	—	$	—	$	—	$	105,467		105,415	$	22	(c)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		—		150,000	(b)		—		—		—		150,000		150,000		1			—
								$	—	$	—	$	255,467			$	23		$	—

^(a)  Commencement of operations.

^(b)  Represents net amount purchased (sold).

^(c)  All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. 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 for identical assets or liabilities that each Fund has the ability to access;

• Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and

• Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are 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.

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
Investments
Assets
Common Stocks	$	2,720,448	$	2,231,222	$	—	$	4,951,670
Money Market Funds		255,467		—		—		255,467
	$	2,975,915	$	2,231,222	$	—	$	5,207,137

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Schedule of Investments  (unaudited) (continued) October 31, 2021 BlackRock Future Climate and Sustainable Economy ETF

Portfolio Abbreviations - Equity
GDR	Global Depositary Receipt
NVS	Non-Voting Shares

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