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        <name>MATCHING FUND SPL PURPOSE SECU</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUSSEX CNTY NJ MUNI UTILITIES</name>
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        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
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        <name>NEW JERSEY ST HLTH CARE FACS F</name>
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          <isin value="US645790CA28"/>
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        <name>CAMDEN CNTY NJ IMPT AUTH REVEN</name>
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          <maturityDt>2038-01-15</maturityDt>
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        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
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          <isin value="US646067AQ18"/>
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        <name>GUAM INTERNATIONAL ARPT AUTH</name>
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        <name>S JERSEY NJ TRANSPRTN AUTH TRA</name>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <name>NEW JERSEY ST ECON DEV AUTH WT</name>
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        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
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        <name>CAMDEN CNTY NJ IMPT AUTH REVEN</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>SALEM CNTY NJ IMPT AUTH</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-08-15</maturityDt>
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      <invstOrSec>
        <name>ESSEX CNTY NJ IMPT AUTH CHRT S</name>
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          <maturityDt>2056-06-15</maturityDt>
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      <invstOrSec>
        <name>NEW JERSEY INFRASTRUCTURE BANK</name>
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          <isin value="US64580CNN38"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>PORT AUTH OF NEW YORK &amp; NEW JE</name>
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        <name>SALEM CNTY NJ IMPT AUTH</name>
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        <name>Putnam Government Money Market Fund</name>
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          <ticker value="PGLXX"/>
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        <fairValLevel>1</fairValLevel>
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        <name>GUAM GOVT WTRWKS AUTH WTR &amp; WS</name>
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          <isin value="US40065FFJ84"/>
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        <name>MONMOUTH CNTY NJ IMPT AUTH REV</name>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <name>NEW JERSEY ST HLTH CARE FACS F</name>
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        <name>NEW JERSEY ST TURNPIKE AUTH TU</name>
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        <name>BEAUMONT TX HSG AUTH RSDL DEV</name>
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        <name>TOBACCO SETTLEMENT FING CORP N</name>
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        <name>NEW JERSEY ST HLTH CARE FACS F</name>
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        <name>SALEM CNTY NJ IMPT AUTH</name>
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        <name>S JERSEY NJ TRANSPRTN AUTH TRA</name>
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        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
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        <title>New Jersey Educational Facilities Authority</title>
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        <name>KANSAS CITY MO INDL DEV AUTH A</name>
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      <invstOrSec>
        <name>GUAM GOVT BUSINESS PRIVILEGE T</name>
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      <invstOrSec>
        <name>GLOUCESTER CNTY NJ IMPT AUTH</name>
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          <isin value="US37970PNJ74"/>
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          <maturityDt>2044-07-01</maturityDt>
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      <invstOrSec>
        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
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        <title>New Jersey Educational Facilities Authority</title>
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          <isin value="US646067AR90"/>
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      <invstOrSec>
        <name>MONROE CNTY NY INDL DEV AGY MF</name>
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          <isin value="US610758AB07"/>
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          <maturityDt>2044-01-01</maturityDt>
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      <invstOrSec>
        <name>TOBACCO SETTLEMENT FING CORP N</name>
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          <isin value="US888808HT28"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
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        <name>NEW JERSEY ST HSG &amp; MTGE FIN A</name>
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        <title>New Jersey Housing &amp; Mortgage Finance Agency</title>
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          <isin value="US646127FS43"/>
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        <name>NEW JERSEY ST ECON DEV AUTH RE</name>
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        <title>New Jersey Economic Development Authority</title>
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        <name>ESSEX CNTY NJ IMPT AUTH CHRT S</name>
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          <isin value="US29681CBL19"/>
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        <name>CASINO REINVESTMENT DEV AUTH N</name>
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        <name>BASTROP TX INDEP SCH DIST</name>
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        <name>SOUTH JERSEY NJ PORT CORP</name>
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        <name>NEW JERSEY ST HSG &amp; MTGE FIN A</name>
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        <name>NEW JERSEY ST ECON DEV AUTH SP</name>
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        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GUAM INTERNATIONAL ARPT AUTH</name>
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          <isin value="US40064RFW43"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>TEXAS WTR DEV BRD REVENUE</name>
        <lei>N/A</lei>
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          <isin value="US88285ABK34"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW JERSEY ST</name>
        <lei>N/A</lei>
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        <name>GUAM GOVT HOTEL OCCUPANCY TAX</name>
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          <isin value="US40065KAV52"/>
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        <curCd>USD</curCd>
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        <invCountry>GU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW JERSEY ST ECON DEV AUTH SC</name>
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          <isin value="US645912EG72"/>
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        <name>AMERICAN SAMOA AS ECON DEV AUT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW JERSEY ST HLTH CARE FACS F</name>
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          <isin value="US645790MW38"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>NEW JERSEY ST ECON DEV AUTH RE</name>
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        <title>New Jersey Economic Development Authority</title>
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          <isin value="US64577XFB73"/>
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        <valUSD>1409376.25000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>CAMDEN CNTY NJ IMPT AUTH REVEN</name>
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          <isin value="US13281NL670"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
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        <name>ESSEX CNTY NJ IMPT AUTH CHRT S</name>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <name>DAVIS CA JT UNIF SCH DIST YOLO</name>
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        <name>NEW JERSEY INSTITUTE OF TECHNO</name>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW JERSEY ST ECON DEV AUTH SP</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>New Jersey Economic Development Authority</title>
        <cusip>64578CCE9</cusip>
        <identifiers>
          <isin value="US64578CCE93"/>
        </identifiers>
        <balance>1750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1776381.43000000</valUSD>
        <pctVal>1.267975419654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PISCATAWAY TWP NJ</name>
        <lei>N/A</lei>
        <title>Township of Piscataway NJ</title>
        <cusip>724292XQ5</cusip>
        <identifiers>
          <isin value="US724292XQ54"/>
        </identifiers>
        <balance>650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>555094.02000000</valUSD>
        <pctVal>0.396224347468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW JERSEY ST ECON DEV AUTH EN</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>New Jersey Economic Development Authority</title>
        <cusip>64577QAE1</cusip>
        <identifiers>
          <isin value="US64577QAE17"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000435.60000000</valUSD>
        <pctVal>0.714107752042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUDSON CNTY NJ IMPT AUTH LEASE</name>
        <lei>N/A</lei>
        <title>Hudson County Improvement Authority</title>
        <cusip>443730PU4</cusip>
        <identifiers>
          <isin value="US443730PU48"/>
        </identifiers>
        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3439047.15000000</valUSD>
        <pctVal>2.454780926883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW JERSEY ST ECON DEV AUTH RE</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>New Jersey Economic Development Authority</title>
        <cusip>64577BN26</cusip>
        <identifiers>
          <isin value="US64577BN266"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000488.80000000</valUSD>
        <pctVal>0.714145726033</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
        <lei>549300UTOO4X537XXG70</lei>
        <title>New Jersey Educational Facilities Authority</title>
        <cusip>646067HR2</cusip>
        <identifiers>
          <isin value="US646067HR28"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1644471.45000000</valUSD>
        <pctVal>1.173818495121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW JERSEY ST</name>
        <lei>N/A</lei>
        <title>State of New Jersey</title>
        <cusip>646039YS0</cusip>
        <identifiers>
          <isin value="US646039YS05"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1079039.50000000</valUSD>
        <pctVal>0.770214966070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
        <cusip>646136WQ0</cusip>
        <identifiers>
          <isin value="US646136WQ01"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1921166.75000000</valUSD>
        <pctVal>1.371322720964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNION TWP NJ UNION CNTY</name>
        <lei>N/A</lei>
        <title>Township of Union NJ/Union County</title>
        <cusip>908726DC3</cusip>
        <identifiers>
          <isin value="US908726DC34"/>
        </identifiers>
        <balance>1120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1016446.70000000</valUSD>
        <pctVal>0.725536424341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAMDEN CNTY NJ IMPT AUTH SCH R</name>
        <lei>549300UTQBT9ZE0QFB15</lei>
        <title>Camden County Improvement Authority/The</title>
        <cusip>13281PAD9</cusip>
        <identifiers>
          <isin value="US13281PAD96"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1038211.20000000</valUSD>
        <pctVal>0.741071855277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <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>2026-01-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Putnam ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer, US Fund Administration and Oversight</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
