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        <name>London Metal Exchange</name>
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        <name>United States Treasury</name>
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        <name>Chicago Board of Trade</name>
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        <name>United States Treasury</name>
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        <name>New York Mercantile Exchange</name>
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        <name>United States Treasury</name>
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        <name>ICE Futures Europe</name>
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        <name>Commodities Exchange Center</name>
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        <name>United States Treasury</name>
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        <fairValLevel>2</fairValLevel>
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        <name>London Metal Exchange</name>
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      <invstOrSec>
        <name>London Metal Exchange</name>
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      <invstOrSec>
        <name>London Metal Exchange</name>
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      <invstOrSec>
        <name>United States Treasury</name>
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          <isin value="US912797KN61"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
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          <other otherDesc="Bloomberg Identifier" value="BBG01FLF4TR1"/>
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                <indexName>CME Live Cattle Futures</indexName>
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        <name>London Metal Exchange</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Chicago Board of Trade</name>
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          <other otherDesc="Bloomberg Identifier" value="BBG018PVVLD0"/>
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        <name>London Metal Exchange</name>
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        <name>United States Treasury</name>
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        <name>Chicago Board of Trade</name>
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        <name>United States Treasury</name>
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        <name>London Metal Exchange</name>
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        <name>London Metal Exchange</name>
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        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>London Metal Exchange</counterpartyName>
              <counterpartyLei>213800NB8G5VRT1DXC91</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>LME Nickel Futures</indexName>
                <indexIdentifier>LNN4 Comdty</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2024-07-15</expDate>
            <notionalAmt>-27480835.86000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1020500.34000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>London Metal Exchange</name>
        <lei>213800NB8G5VRT1DXC91</lei>
        <title>LME NICKEL FUTURE JUL24</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Bloomberg Identifier" value="BBG00NNFWV06"/>
        </identifiers>
        <balance>258.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1513738.56000000</valUSD>
        <pctVal>-0.14900466609</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>London Metal Exchange</counterpartyName>
              <counterpartyLei>213800NB8G5VRT1DXC91</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>LME Nickel Futures</indexName>
                <indexIdentifier>LNN4 Comdty</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2024-07-15</expDate>
            <notionalAmt>27974074.08000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1513738.56000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2024-07-15</ncom:dateSigned>
      <ncom:nameOfApplicant>abrdn ETFs</ncom:nameOfApplicant>
      <ncom:signature>Brian Kordeck</ncom:signature>
      <ncom:signerName>Brian Kordeck</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
