BlackRock Strengthens ETF Operating Platform by Diversifying Post-Trade Service Providers

London – 1 February 2024 – BlackRock today announced that BNY Mellon will join State Street as depositary and administration service providers for iShares’ USD729bn / EUR 673bn¹ AUM Irish-domiciled exchange traded funds (ETFs).

This follows BlackRock’s announcement in 2021, of the diversification of post-trade custodians for U.S. domiciled ETFs, which included BNY Mellon with a share of 15% of the contemporary AUM² of U.S.-listed iShares ETFs.

Mitigating risk and creating efficiency

BNY Mellon³ will provide depositary (including custody), fund administration and fund accounting services to a selection of Irish-domiciled iShares ETFs. State Street will continue to be the registrar and transfer agent for all Irish-domiciled iShares ETFs.

The end state of this project, after the transitions of assets in the coming months, will lead to broadly a 50-50 asset split for depositary and administration between State Street and BNY Mellon based on today’s valuation (BNY Mellon share USD356bn / EUR329bn⁴). This will only impact BlackRock’s iShares Irish-domiciled ETFs. Fund administration and depositary for the rest of BlackRock’s European iShares ETF ranges (including the iShares ETF ranges domiciled in Switzerland and Germany) will remain with State Street.

Appendix

Details of the BlackRock December 2021 US Custody Announcement

In December 2021, BlackRock announced that BNY Mellon, Citi and JP Morgan would join State Street as post-trade service providers for iShares’ U.S. domiciled ETFs. Each firm provides custodial, fund administration, fund accounting, and transfer agency services to a subset of U.S. listed iShares ETFs.

Approximate AUM Breakdown by Provider*:

Citi	40%
JP Morgan	30%
State Street	15%
BNY Mellon	15%

*Percentages are approximate as of September 30, 2021 and are subject to change

Notes to editors:

Press contacts:

Anthony Arthur
anthony.arthur@blackrock.com
+44 (0) 77553 293913

Ellie Bishop
ellie.bishop@blackrock.com
+44 (0) 7741 811316

¹ Data as at 30 January 2024

² Percentages approximate as of September 30, 2021

³ The depositary will be The Bank of New York Mellon SA/NV, Dublin Branch. The administrator will be BNY Mellon Fund Services (Ireland) Designated Activity Company.

⁴ Data as at 30 January 2024

About iShares

iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1400+ exchange traded funds (ETFs) and $3.5 trillion in assets under management as of December 31, 2023, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

BlackRock iShares European listed ETF AUM as at 30 January 2024: USD808bn / EUR745bn.

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