Schedule of Investments  (unaudited)  October 31, 2022 BlackRock Future Financial and Technology ETF (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Banks — 18.7%
FinecoBank Banca Fineco SpA		7,704	$	103,816
Inter & Co. Inc., NVS		15,803		47,542
Inter & Co. Inc., NVS(a)		17,945		54,194
JPMorgan Chase & Co.		1,352		170,190
Live Oak Bancshares Inc.		2,007		65,167
Signature Bank/New York NY		1,124		178,188
Silvergate Capital Corp., Class A(a)		1,546		87,751
SVB Financial Group(a)		502		115,942
			822,790
Capital Markets — 8.1%
Allfunds Group PLC		3,175		19,967
Assetmark Financial Holdings Inc.(a)		2,530		52,396
Charles Schwab Corp. (The)		2,918		232,477
XP Inc., Class A(a)		2,808		51,471
				356,311
Consumer Finance — 14.0%
American Express Co.		1,065		158,099
Capital One Financial Corp.		844		89,481
Discover Financial Services		487		50,872
Kaspi.KZ JSC(b)		2,660		174,084
Oportun Financial Corp.(a)		7,555		41,553
Synchrony Financial		2,790		99,212
				613,301
Diversified Financial Services — 1.6%
Illimity Bank SpA(a)		10,328		70,239
IT Services — 48.3%
Adyen NV(a)(c)		20		28,552
Block Inc. New(a)		425		25,530
Dlocal Ltd./Uruguay, Class A(a)		2,065		46,050
Fidelity National Information Services Inc.		2,341		194,280
Fiserv Inc.(a)		1,780		182,877
Global Payments Inc.		1,658		189,443
Mastercard Inc., Class A		138		45,289
Network International Holdings PLC(a)(c)		54,377		202,668
Nexi SpA(a)(c)		11,891		102,803
Nuvei Corp.(a)(c)		3,158		95,040

Security	Shares		Value
IT Services (continued)
Pagseguro Digital Ltd., Class A(a)		10,559	$	144,447
Paya Holdings Inc., Class A(a)		12,374		99,487
Payoneer Global Inc.(a)		6,763		52,413
PayPal Holdings Inc.(a)		2,087		174,431
Repay Holdings Corp.(a)		9,022		54,944
Shift4 Payments Inc., Class A(a)		561		25,789
StoneCo Ltd., Class A(a)		10,725		112,613
Visa Inc., Class A		245		50,754
WEX Inc.(a)		1,129		185,314
Worldline SA/France(a)(c)		2,510		109,553
				2,122,277
Software — 0.9%
Temenos AG, Registered		620		36,926
Total Long-Term Investments — 91.6% (Cost: $4,543,821)				4,021,844
Short-Term Securities
Money Market Funds — 8.2%
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.97%(d)(e)		360,000		360,000
Total Short-Term Securities — 8.2% (Cost: $360,000)				360,000
Total Investments — 99.8% (Cost: $4,903,821)				4,381,844
Other Assets Less Liabilities — 0.2%				9,348
Net Assets — 100.0%			$4,391,192

^(a)  Non-income producing security.

^(b)  This his security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^(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.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 08/16/22(a)		Purchases at Cost			Proceeds from Sale		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 10/31/22		Shares Held at 10/31/22		Income		Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Treasury, SL Agency Shares	$	—	$	360,000	(b)	$	—	$	—	$	—	$	360,000		360,000	$	1,205	$	—

^(a)  Commencement of operations.

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

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Schedule of Investments  (unaudited) (continued) October 31, 2022 BlackRock Future Financial and Technology ETF

Fair Value Hierarchy as of Period End

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 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. 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	$	3,375,904	$	645,940	$	—	$	4,021,844
Money Market Funds		360,000		—		—		360,000
	$	3,735,904	$	645,940	$	—	$	4,381,844

Portfolio Abbreviation
JSC	Joint Stock Company
NVS	Non-Voting Shares

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