BlackRock files to add ETF classes to five mutual funds

BlackRock has filed initial registration statements with the U.S. Securities and Exchange Commission to add ETF share classes to five active mutual funds. The underlying strategies hold nearly $55 billion in combined assets.

The funds include the BlackRock Strategic Municipal Opportunities Fund, the BlackRock California Municipal Opportunities Fund, and the BlackRock New York Municipal Opportunities Fund. The proposed structure spans active strategies in municipal bonds, high yield, and equity dividend.

If approved, each ETF share class would trade on an exchange while investing in the same portfolio as the existing mutual fund classes. The setup does not create a separate portfolio or require current mutual fund shareholders to shift their holdings.

Elise Terry, Co-Head of the Americas for Global Product Solutions and Head of Americas iShares at BlackRock, noted that investors increasingly want to choose vehicles that fit their needs. She said the share classes pair established active portfolios with the flexibility and potential tax and cost efficiencies of an exchange-traded wrapper.

The iShares division ranks as the third-largest active ETF issuer globally, managing nearly $190 billion in active assets. Overall, iShares ran more than 1,700 ETFs with approximately $6.2 trillion in assets under management as of June 30, 2026.