N-2 - USD ($)

3 Months Ended

Jul. 02, 2026

Jun. 25, 2026

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Mar. 31, 2025

Dec. 31, 2024

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Cover [Abstract]

Entity Central Index Key

0001832871

false

424B2

Entity Registrant Name

BLACKROCK 2037 MUNICIPAL TARGET TERM TRUST

Fee Table [Abstract]

Shareholder Transaction Expenses [Table Text Block]


Shareholder Transaction Expenses
Sales load paid by you (as a percentage of offering price) (1)			1.00	%
Offering expenses borne by the Trust (as a percentage of offering price) (2)			0.08	%
Dividend reinvestment plan fees			$0.02 per share for open-market purchases of common shares (3)
Dividend reinvestment plan sale transaction fee		$	2.50	(3)

(1)

Represents the estimated commission with respect to the Trust’s common shares being sold in this offering. There is no guarantee that there will be any sales of the Trust’s common shares pursuant to this Prospectus Supplement and the accompanying Prospectus. Actual sales of the Trust’s common shares under this Prospectus Supplement and the accompanying Prospectus, if any, may be less than as set forth under “Capitalization” below. In addition, the price per common share of any such sale may be greater than or less than the price set forth under “Capitalization” below, depending on the market price of the Trust’s common shares at the time of any such sale.

(2)

Based on a sale price per common share of $25.68, which represents the last reported sale price per share of the Trust’s common shares on the NYSE on June 25, 2026. Assumes all of the common shares being offered by this Prospectus Supplement and the accompanying Prospectus are sold. Represents the initial offering costs incurred by the Trust in connection with this offering, which are estimated to be $124,192.82. Offering

costs generally include, but are not limited to, the preparation, review and filing with the SEC of the Trust’s registration statement (the “Registration Statement”), the preparation, review and filing of any associated marketing or similar materials, costs associated with the printing, mailing or other distribution of the Prospectus Supplement and the accompanying Prospectus and/or marketing materials, associated filing fees, NYSE listing fees, and legal and auditing fees associated with the offering.

(3)

Computershare Trust Company, N.A.’s (the “Reinvestment Plan Agent”) fees for the handling of the reinvestment of dividends will be paid by the Trust. However, you will pay a $0.02 per share fee incurred in connection with open-market purchases, which will be deducted from the value of the dividend. You will also be charged a $2.50 sales fee and pay a $0.15 per share fee if you direct the Reinvestment Plan Agent to sell your common shares held in a dividend reinvestment account. Per share fees include any applicable brokerage commissions the Reinvestment Plan Agent is required to pay.

Sales Load [Percent]

^[1]

1.00%

Dividend Reinvestment and Cash Purchase Fees

^[2]

$ 2.5

Other Transaction Expenses [Abstract]

Other Transaction Expenses [Percent]

^[3]

0.08%

Annual Expenses [Table Text Block]


Estimated Annual Expenses (as a percentage of net assets attributable to common shares)
Management Fees (4)			0.76	%
Other Expenses (5)			1.40	%
Miscellaneous Other Expenses			0.10%
Interest Expense (6)			1.30%
Acquired Fund Fees and Expenses (7)			0.01	%
Total Annual Expenses (8)			2.17	%

(4)

The Trust currently pays the Advisor an annual fee, payable monthly, in an amount equal to 0.55% of the average daily value of the Trust’s Managed Assets. “Managed Assets” means the total assets of the Trust (including any assets attributable to money borrowed for investment purposes) minus the sum of the Trust’s accrued liabilities (other than money borrowed for investment purposes).

(5)	Other Expenses are based on estimated amounts for the current fiscal year.

(6)

The total expense table includes interest expense associated with the Trust’s investments in TOB Residuals (also known as “inverse floaters”). Although such interest expense is actually paid by special purpose vehicles in which the Trust invests, it is recorded on the Trust’s financial statements for accounting purposes. The total expense table also includes, in interest expense, dividends associated with the VRDP Shares, because the VRDP Shares are considered debt of the Trust for financial reporting purposes. The Trust uses leverage to seek to enhance its returns to common shareholders. This leverage generally takes two forms: the issuance of VRDP Shares and investment in TOB Residuals. Both forms of leverage benefit common shareholders if the cost of the leverage is lower than the returns earned by the Trust when it invests the proceeds from the leverage. In order to help you better understand the costs associated with the Trust’s leverage strategy, the Total Annual Expenses After Fee Waivers and/or Expense Reimbursements (excluding interest expense) are 0.87%.

(7)

The Trust and the Advisor have entered into a fee waiver agreement (the “Fee Waiver Agreement”), pursuant to which the Advisor has contractually agreed to waive the management fee with respect to any portion of the Trust’s assets attributable to investments in any equity and fixed-income mutual funds and exchange-traded funds (“ETFs”) managed by the Advisor or its affiliates and other exchange-traded products sponsored by the Advisor or its affiliates, in each case that have a contractual management fee, through June 30, 2028. In addition, pursuant to the Fee Waiver Agreement, the Advisor has contractually agreed to waive its management fees by the amount of investment advisory fees the Trust pays to the Advisor indirectly through its investment in money market funds managed by the Advisor or its affiliates, through June 30, 2028. The Fee Waiver Agreement may be terminated at any time, without the payment of any penalty, only by the Trust (upon the vote of a majority of the Trustees who are not “interested persons” (as defined in the Investment Company Act) of the Trust (the “Independent Trustees”) or a majority of the outstanding voting securities of the Trust), upon 90 days’ written notice by the Trust to the Advisor.

(8)	The Total Annual Expenses do not correlate to the ratios of expenses to average net assets in the Trust’s most recent annual report, which do not include Acquired Fund Fees and Expenses.

Management Fees [Percent]

^[4]

0.76%

Acquired Fund Fees and Expenses [Percent]

^[5]

0.01%

Other Annual Expenses [Abstract]

Other Annual Expense 1 [Percent]

0.10%

Other Annual Expense 2 [Percent]

^[6]

1.30%

Other Annual Expenses [Percent]

^[7]

1.40%

Total Annual Expenses [Percent]

^[8]

2.17%

Expense Example [Table Text Block]

Example

The following example illustrates the expenses (including the sales load of $10.00 and offering costs of $0.79) that you would pay on a $1,000 investment in common shares, assuming (i) the Fee Waiver Agreement described above is only in effect for the first year, since it expires on June 30, 2028, and (ii) a 5% annual return:


		1 Year				3 Years				5 Years				10 Years
Total expenses incurred		$	33			$	78			$	126			$	258

The example should not be considered a representation of future expenses. The example assumes that the estimated “Other Expenses” set forth in the Estimated Annual Expenses table are accurate, that the rate listed under Total Annual Expenses remains the same each year and that all dividends and distributions are reinvested at NAV. Actual expenses may be greater or less than those assumed. Moreover, the Trust’s actual rate of return may be greater or less than the hypothetical 5% return shown in the example.

Expense Example, Year 01

$ 33

Expense Example, Years 1 to 3

78

Expense Example, Years 1 to 5

126

Expense Example, Years 1 to 10

$ 258

Purpose of Fee Table , Note [Text Block]

The following table and example are intended to assist you in understanding the various costs and expenses directly or indirectly associated with investing in our common shares.

Basis of Transaction Fees, Note [Text Block]

as a percentage of offering price

Other Expenses, Note [Text Block]

Other Expenses are based on estimated amounts for the current fiscal year.

Management Fee not based on Net Assets, Note [Text Block]

The Trust currently pays the Advisor an annual fee, payable monthly, in an amount equal to 0.55% of the average daily value of the Trust’s Managed Assets. “Managed Assets” means the total assets of the Trust (including any assets attributable to money borrowed for investment purposes) minus the sum of the Trust’s accrued liabilities (other than money borrowed for investment purposes).

Acquired Fund Fees and Expenses, Note [Text Block]

The Trust and the Advisor have entered into a fee waiver agreement (the “Fee Waiver Agreement”), pursuant to which the Advisor has contractually agreed to waive the management fee with respect to any portion of the Trust’s assets attributable to investments in any equity and fixed-income mutual funds and exchange-traded funds (“ETFs”) managed by the Advisor or its affiliates and other exchange-traded products sponsored by the Advisor or its affiliates, in each case that have a contractual management fee, through June 30, 2028. In addition, pursuant to the Fee Waiver Agreement, the Advisor has contractually agreed to waive its management fees by the amount of investment advisory fees the Trust pays to the Advisor indirectly through its investment in money market funds managed by the Advisor or its affiliates, through June 30, 2028. The Fee Waiver Agreement may be terminated at any time, without the payment of any penalty, only by the Trust (upon the vote of a majority of the Trustees who are not “interested persons” (as defined in the Investment Company Act) of the Trust (the “Independent Trustees”) or a majority of the outstanding voting securities of the Trust), upon 90 days’ written notice by the Trust to the Advisor.

General Description of Registrant [Abstract]

Share Price [Table Text Block]

The following table sets forth, for the quarters indicated, the highest and lowest daily closing prices on the NYSE per common share, and the NAV per common share and the premium to or discount from NAV, on the date of each of the high and low market prices. The table also sets forth the number of common shares

traded

on the NYSE during the respective quarters.


During Quarter Ended		NYSE Market Price Per Common Share								NAV Per Common Share on Date of Market Price								Premium/(Discount) on Date of Market Price								Trading Volume
		High				Low				High				Low				High				Low
June 30, 2026		$	26.19			$	25.94			$	25.53			$	25.44				2.59	%			1.97	%			578,909
March 31, 2026		$	27.53			$	25.81			$	26.28			$	25.29				4.76	%			2.06	%			482,580
December 31, 2025		$	26.18			$	24.65			$	25.76			$	25.89				1.63	%			(4.79	)%			919,970
September 30, 2025		$	25.20			$	24.00			$	25.44			$	24.69				(0.94	)%			(2.79	)%			785,082
June 30, 2025		$	25.35			$	23.59			$	25.50			$	24.81				(0.59	)%			(4.92	)%			883,189
March 31, 2025		$	25.87			$	25.05			$	25.77			$	25.56				0.39	%			(1.99	)%			715,617
December 31, 2024		$	25.77			$	24.61			$	26.21			$	25.87				(1.68	)%			(4.87	)%			871,857
September 30, 2024		$	25.57			$	24.46			$	26.32			$	25.98				(2.85	)%			(5.85	)%			1,031,538
June 30, 2024		$	24.95			$	23.80			$	25.95			$	25.75				(3.85	)%			(7.57	)%			1,001,952
March 31, 2024		$	24.36			$	23.58			$	26.12			$	25.95				(6.74	)%			(9.13	)%			1,560,667

As of June 25, 2026, the NAV per common share of the Trust was $25.98 and the market price per common share was $25.68, representing a discount to NAV of (1.15)%. Common shares of the Trust have historically traded at both a premium and discount to NAV.

As of June 25, 2026, the Trust has 6,147,653 common shares outstanding.

Common Shares [Member]

Fee Table [Abstract]

Dividend Reinvestment and Cash Purchase Fees

^[2]

$ 0.02

Other Annual Expenses [Abstract]

Basis of Transaction Fees, Note [Text Block]

as a percentage of net assets attributable to common shares

General Description of Registrant [Abstract]

Lowest Price or Bid

$ 25.94

$ 25.81

$ 24.65

$ 24

$ 23.59

$ 25.05

$ 24.61

$ 24.46

$ 23.8

$ 23.58

Highest Price or Bid

26.19

27.53

26.18

25.2

25.35

25.87

25.77

25.57

24.95

24.36

Lowest Price or Bid, NAV

25.44

25.29

25.89

24.69

24.81

25.56

25.87

25.98

25.75

25.95

Highest Price or Bid, NAV

$ 25.53

$ 26.28

$ 25.76

$ 25.44

$ 25.5

$ 25.77

$ 26.21

$ 26.32

$ 25.95

$ 26.12

Highest Price or Bid, Premium (Discount) to NAV [Percent]

2.59%

4.76%

1.63%

(0.94%)

(0.59%)

0.39%

(1.68%)

(2.85%)

(3.85%)

(6.74%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

1.97%

2.06%

(4.79%)

(2.79%)

(4.92%)

(1.99%)

(4.87%)

(5.85%)

(7.57%)

(9.13%)

$ 25.68

$ 25.98

Latest Premium (Discount) to NAV [Percent]

(1.15%)

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Outstanding Security, Held [Shares]

6,147,653

[1]	Represents the estimated commission with respect to the Trust’s common shares being sold in this offering. There is no guarantee that there will be any sales of the Trust’s common shares pursuant to this Prospectus Supplement and the accompanying Prospectus. Actual sales of the Trust’s common shares under this Prospectus Supplement and the accompanying Prospectus, if any, may be less than as set forth under “Capitalization” below. In addition, the price per common share of any such sale may be greater than or less than the price set forth under “Capitalization” below, depending on the market price of the Trust’s common shares at the time of any such sale.
[2]	Computershare Trust Company, N.A.’s (the “Reinvestment Plan Agent”) fees for the handling of the reinvestment of dividends will be paid by the Trust. However, you will pay a $0.02 per share fee incurred in connection with open-market purchases, which will be deducted from the value of the dividend. You will also be charged a $2.50 sales fee and pay a $0.15 per share fee if you direct the Reinvestment Plan Agent to sell your common shares held in a dividend reinvestment account. Per share fees include any applicable brokerage commissions the Reinvestment Plan Agent is required to pay.
[3]	Based on a sale price per common share of $25.68, which represents the last reported sale price per share of the Trust’s common shares on the NYSE on June 25, 2026. Assumes all of the common shares being offered by this Prospectus Supplement and the accompanying Prospectus are sold. Represents the initial offering costs incurred by the Trust in connection with this offering, which are estimated to be $124,192.82. Offering costs generally include, but are not limited to, the preparation, review and filing with the SEC of the Trust’s registration statement (the “Registration Statement”), the preparation, review and filing of any associated marketing or similar materials, costs associated with the printing, mailing or other distribution of the Prospectus Supplement and the accompanying Prospectus and/or marketing materials, associated filing fees, NYSE listing fees, and legal and auditing fees associated with the offering.
[4]	The Trust currently pays the Advisor an annual fee, payable monthly, in an amount equal to 0.55% of the average daily value of the Trust’s Managed Assets. “Managed Assets” means the total assets of the Trust (including any assets attributable to money borrowed for investment purposes) minus the sum of the Trust’s accrued liabilities (other than money borrowed for investment purposes).
[5]	The Trust and the Advisor have entered into a fee waiver agreement (the “Fee Waiver Agreement”), pursuant to which the Advisor has contractually agreed to waive the management fee with respect to any portion of the Trust’s assets attributable to investments in any equity and fixed-income mutual funds and exchange-traded funds (“ETFs”) managed by the Advisor or its affiliates and other exchange-traded products sponsored by the Advisor or its affiliates, in each case that have a contractual management fee, through June 30, 2028. In addition, pursuant to the Fee Waiver Agreement, the Advisor has contractually agreed to waive its management fees by the amount of investment advisory fees the Trust pays to the Advisor indirectly through its investment in money market funds managed by the Advisor or its affiliates, through June 30, 2028. The Fee Waiver Agreement may be terminated at any time, without the payment of any penalty, only by the Trust (upon the vote of a majority of the Trustees who are not “interested persons” (as defined in the Investment Company Act) of the Trust (the “Independent Trustees”) or a majority of the outstanding voting securities of the Trust), upon 90 days’ written notice by the Trust to the Advisor.
[6]	The total expense table includes interest expense associated with the Trust’s investments in TOB Residuals (also known as “inverse floaters”). Although such interest expense is actually paid by special purpose vehicles in which the Trust invests, it is recorded on the Trust’s financial statements for accounting purposes. The total expense table also includes, in interest expense, dividends associated with the VRDP Shares, because the VRDP Shares are considered debt of the Trust for financial reporting purposes. The Trust uses leverage to seek to enhance its returns to common shareholders. This leverage generally takes two forms: the issuance of VRDP Shares and investment in TOB Residuals. Both forms of leverage benefit common shareholders if the cost of the leverage is lower than the returns earned by the Trust when it invests the proceeds from the leverage. In order to help you better understand the costs associated with the Trust’s leverage strategy, the Total Annual Expenses After Fee Waivers and/or Expense Reimbursements (excluding interest expense) are 0.87%.
[7]	Other Expenses are based on estimated amounts for the current fiscal year.
[8]	The Total Annual Expenses do not correlate to the ratios of expenses to average net assets in the Trust’s most recent annual report, which do not include Acquired Fund Fees and Expenses.