BlackRock will waive a portion of the Sponsor’s Fee for the first 12 months commencing on January 11, 2024,

so that the fee will be 0.12% of the net asset value of the Trust for the first $5.0 billion of the Trust’s assets 

If the fund exceeds $5.0 billion of the Trust’s assets prior to the end of the 12-month period, 

the Sponsor’s Fee charged on assets over $5.0 billion will be 0.25% 

All investors will incur the same Sponsor’s Fee which is the weighted average of those fee rates 

After the 12-month waiver period is over, the Sponsor’s Fee will be 0.25%. 

 BlackRock is the world’s largest ETF manager by AUM, managing $3.5T in global ETF investment vehicles as of December 31, 2023.