According to Bloomberg, BlackRock purchased bonds issued by the city of Quincy, Massachusetts through its actively managed exchange-traded fund iShares Short Maturity Municipal Bond Active ETF (MEAR), with the transaction completed on JPMorgan's blockchain platform. This is the first municipal bond transaction fully relying on blockchain, with BlackRock holding $6.5 million of the bonds. The MEAR fund's prospectus has been updated to allow investments in municipal bonds settled through this platform.