---
title: "BlackRock Launches USLN ETF To Open Up $1.4 Trillion Leveraged Loan Market"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/277992783.md"
description: "BlackRock has launched the iShares Broad USD Floating Rate Loan ETF (USLN) to provide access to the $1.4 trillion U.S. leveraged loan market. This ETF aims to track the Morningstar LSTA US Leveraged Loan Broad Select Index and primarily invests in U.S. dollar-denominated senior secured leveraged loans. With a 0.40% net expense ratio, it expands BlackRock's credit ETF offerings and complements existing floating-rate strategies. BlackRock manages over $40 billion in leveraged loan assets and more than $5.7 trillion in ETF assets globally."
datetime: "2026-03-05T21:55:57.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/277992783.md)
  - [en](https://longbridge.com/en/news/277992783.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/277992783.md)
---

# BlackRock Launches USLN ETF To Open Up $1.4 Trillion Leveraged Loan Market

**BlackRock** has rolled out a new ETF aimed at expanding investor access to the fast-growing leveraged loan market, a segment of credit that has historically been difficult to access through index-based products.

The asset manager announced the launch of the **iShares Broad USD Floating Rate Loan ETF** (BATS:USLN), which seeks to track the **Morningstar LSTA US Leveraged Loan Broad Select Index**. The ETF primarily invests in U.S. dollar-denominated senior secured leveraged loans.

The launch comes as the U.S. leveraged loan market has expanded to roughly $1.4 trillion, bringing it close in size to the high-yield bond market and attracting growing institutional and ETF investor interest.

## Expanding Access To Floating-Rate Credit

Leveraged loans typically carry floating interest rates and sit higher in the capital structure than traditional high-yield bonds, making them appealing to investors seeking income with reduced sensitivity to interest-rate fluctuations.

The fund carries a 0.40% net expense ratio.

## Adding To BlackRock's Credit ETF Lineup

The new ETF expands BlackRock's broad credit index suite, which already includes products such as the **iShares Broad USD High Yield Corporate Bond ETF** (BATS:USHY) and the **iShares Broad USD Investment Grade Corporate Bond ETF** (NASDAQ: USIG).

It also complements the firm's existing floating-rate strategies, including the actively managed **iShares Floating Rate Loan Active ETF** (BATS:BRLN) and the **BlackRock Floating Rate Income Fund** (NYSE:FRA).

BlackRock is already one of the largest investors in the leveraged loan market, overseeing more than $40 billion in loan assets globally. The firm said the new ETF aims to provide a more scalable, transparent entry point into the asset class through an index-based structure.

Through its iShares platform, BlackRock manages more than $5.7 trillion in ETF assets globally, including over $1.2 trillion in bond ETFs, reflecting the rapid growth of fixed income ETFs since the first bond ETF debuted in 2002.

_Photo: Shutterstock_

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