673 billion euro’s worth of exchange-traded fund units under the iShares brand are moved as the US-based 10-trillion-dollar fund giant moves forward in its diversification of its post-trade services sourcing, notes Financial Times-related news site Ignites Europe.

The action follows a similar move three years ago around US-registered ETFs. Financial Times reports BlackRock’s intention to be that “the split will strengthen its ETF operating platform by diversifying its post-trade service providers”.

“The end state of this project, after the transitions of assets in the coming months, will lead to broadly a 50-50 asset split for depositary and administration between State Street and BNY Mellon based on today’s valuation,” BlackRock said, as quoted by the paper. 


The split for BNY Mellon involves “depositary, including custody, fund administration and fund accounting services”, while registrar and transfer agent services for all Irish iShares ETFs stay under the guardianship of State Street.