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ID: 0Vvy4MXg/biz/60676094#60677425
7/23/2025, 6:34:21 AM
>>60676768
When you invest in a BlackRock ETF, such as one of its iShares funds, here's how ownership and control actually work:
1. ETF Assets Are Owned by the Fund, Not BlackRock
The ETF is a separate legal entity. It owns the underlying securities directly (stocks, bonds, etc.) .
If BlackRock were to disappear, the fund would still exist, its assets are ring‑fenced and held by independent custodians .
2. You (the Investor) Own a Share of the Fund
When you buy ETF shares, you’re buying into the fund itself, so you indirectly own a proportional share of the underlying assets .
3. BlackRock Manages and Votes the Shares
BlackRock doesn’t legally own the shares, as legal title sits with the fund, but it exercises voting rights (proxy voting) on behalf of shareholders.
Their voting follows a public stewardship policy, and for major decisions, governance teams may decide how votes are cast .
4. How ETF Shares Are Created & Traded
When investing, you buy ETF shares on the market, not the underlying companies.
Authorized Participants (large market makers) handle the creation/redemption of ETF shares by exchanging them for the actual basket of assets.
Summary
BlackRock doesn’t own the individual assets, they manage them within the funds.
You (and other investors) own the fund shares, and thereby a slice of the assets.
BlackRock manages, reports holdings, and votes on your behalf according to their policies.
TL;DR
BlackRock is the steward of your investment, handling operations, reporting, and governance, but you and the fund are the true owners of the underlying assets.
When you invest in a BlackRock ETF, such as one of its iShares funds, here's how ownership and control actually work:
1. ETF Assets Are Owned by the Fund, Not BlackRock
The ETF is a separate legal entity. It owns the underlying securities directly (stocks, bonds, etc.) .
If BlackRock were to disappear, the fund would still exist, its assets are ring‑fenced and held by independent custodians .
2. You (the Investor) Own a Share of the Fund
When you buy ETF shares, you’re buying into the fund itself, so you indirectly own a proportional share of the underlying assets .
3. BlackRock Manages and Votes the Shares
BlackRock doesn’t legally own the shares, as legal title sits with the fund, but it exercises voting rights (proxy voting) on behalf of shareholders.
Their voting follows a public stewardship policy, and for major decisions, governance teams may decide how votes are cast .
4. How ETF Shares Are Created & Traded
When investing, you buy ETF shares on the market, not the underlying companies.
Authorized Participants (large market makers) handle the creation/redemption of ETF shares by exchanging them for the actual basket of assets.
Summary
BlackRock doesn’t own the individual assets, they manage them within the funds.
You (and other investors) own the fund shares, and thereby a slice of the assets.
BlackRock manages, reports holdings, and votes on your behalf according to their policies.
TL;DR
BlackRock is the steward of your investment, handling operations, reporting, and governance, but you and the fund are the true owners of the underlying assets.
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