X0101 EFFECT 33 LIVE 2024-11-26 15:45:00

N-14

0001804196 BlackRock ETF Trust II 333-282203 0001804196 BlackRock ETF Trust II S000088410 iShares High Yield Muni Active ETF C000254671 iShares High Yield Muni Active ETF 0000225635 BLACKROCK MUNICIPAL BOND FUND, INC. S000011867 BlackRock High Yield Municipal Fund C000032425 Investor A 0001804196 BlackRock ETF Trust II S000088410 iShares High Yield Muni Active ETF C000254671 iShares High Yield Muni Active ETF 0000225635 BLACKROCK MUNICIPAL BOND FUND, INC. S000011867 BlackRock High Yield Municipal Fund C000032427 Investor C 0001804196 BlackRock ETF Trust II S000088410 iShares High Yield Muni Active ETF C000254671 iShares High Yield Muni Active ETF 0000225635 BLACKROCK MUNICIPAL BOND FUND, INC. S000011867 BlackRock High Yield Municipal Fund C000032428 Institutional 0001804196 BlackRock ETF Trust II S000088410 iShares High Yield Muni Active ETF C000254671 iShares High Yield Muni Active ETF 0000225635 BLACKROCK MUNICIPAL BOND FUND, INC. S000011867 BlackRock High Yield Municipal Fund C000199786 Class K