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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUSQUEHANNA FINANCIAL GROUP, LLLP</name>
        <lei>549300E8QX0ZMRDC2M81</lei>
        <title>ISHARES CORE S&amp;P 500 ETF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BYDVD55C6"/>
        </identifiers>
        <balance>623.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>186264.54000000</valUSD>
        <pctVal>0.143349811844</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SUSQUEHANNA FINANCIAL GROUP, LLLP</counterpartyName>
              <counterpartyLei>549300E8QX0ZMRDC2M81</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>iShares Core S&amp;P 500 ETF</issuerName>
                <issueTitle>iShares Core S&amp;P 500 ETF</issueTitle>
                <identifiers>
                  <cusip value="464287200"/>
                  <isin value="US4642872000"/>
                  <ticker value="IVV"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>652.54000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-03-03</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-450071.56000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JANE STREET LLC</name>
        <lei>549300E22Y3R49WJQP43</lei>
        <title>ISHARES CORE S&amp;P 500 ETF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BYDTXPCN3"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4.76000000</valUSD>
        <pctVal>0.000003663311</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>JANE STREET LLC</counterpartyName>
              <counterpartyLei>549300E22Y3R49WJQP43</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>iShares Core S&amp;P 500 ETF</issuerName>
                <issueTitle>iShares Core S&amp;P 500 ETF</issueTitle>
                <identifiers>
                  <cusip value="464287200"/>
                  <isin value="US4642872000"/>
                  <ticker value="IVV"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>650.97000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-02-03</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-572.45000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </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>2026-03-27</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock ETF Trust II</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
