Exhibit 9(a)

 

		ROPES & GRAY LLP   PRUDENTIAL TOWER   800 BOYLSTON STREET   BOSTON, MA 02199-3600   WWW.ROPESGRAY.COM

July 30, 2026

BlackRock Funds^SM

50 Hudson Yards

New York, New York 10001

Ladies and Gentlemen:

We are furnishing this opinion in connection with the proposed offer and sale by BlackRock Funds^SM, a Massachusetts business trust (the “Trust”), of OnChain class shares of beneficial interest (“OnChain Shares”) of BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (the “Fund”), a series of the Trust, pursuant to an amendment to the Trust’s Registration Statement on Form N-1A (No. 33-26305) (the “Registration Statement”) under the Securities Act of 1933, as amended.

We have examined the Trust’s Declaration of Trust dated December 22, 1988 (the “Declaration of Trust”) on file in the office of the Secretary of The Commonwealth of Massachusetts and the amendments thereto. We have further examined the Trust’s Amended and Restated By-Laws, and the amendments thereto, and such other documents as we have deemed necessary for purposes of this opinion. In our examination, we have assumed the genuineness of all signatures, the legal capacity of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified or photostatic copies, and the authenticity of the originals of such latter documents.

For purposes of this opinion, we have assumed that all OnChain Shares will be offered and sold on the terms, and that the Trust will receive for the sale of such OnChain Shares by the Trust the consideration, set forth in the Registration Statement as in effect at the time of such sale, and that such consideration will be in each case at least equal to the applicable net asset value per Share. In addition, we have assumed that any and all conditions established by resolution of the trustees to the authorization or issuance of the OnChain Shares will have been satisfied in full prior to, and in respect of, such issuance.

We assume that appropriate action has been taken to register or qualify the sale of the OnChain Shares under any applicable state and federal laws regulating offerings and sales of securities.

Based upon and subject to the foregoing, we are of the opinion that the Trust is authorized to issue an unlimited number of OnChain Shares of the Fund and that, when such OnChain Shares are issued and sold and the authorized consideration therefor is received by the Trust, such OnChain Shares will be validly issued, fully paid, and nonassessable by the Trust. We express no opinion as to the effect of laws, rules, and regulations of any state or jurisdiction other than The Commonwealth of Massachusetts.

BlackRock Funds^SM

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The Trust is an entity of the type commonly known as a “Massachusetts business trust.” Under Massachusetts law, shareholders could, under certain circumstances, be held personally liable for the obligations of the Trust. However, the Declaration of Trust provides that shareholders shall not be subject to any personal liability in connection with the assets of the Trust for the acts or obligations of the Trust, and also requires that every note, bond, contract, order or other undertaking issued by or on behalf of the Trust or the trustees relating to the Trust or any class of shares and the stationery used by the Trust, shall include a recitation limiting the obligation represented thereby to the Trust and its assets. The Declaration of Trust provides that in case any shareholder or former shareholder shall be held to be personally liable solely by reason of his or her being or having been a shareholder and not because of his or her acts or omissions or for some other reason, the shareholder or former shareholder (or his or her heirs, executors, administrators or other legal representatives or, in the case of a corporation or other entity, its corporate or other general successor) shall be entitled out of the assets belonging to the classes of shares with the same alphabetical designation as that of the shares owned by such shareholder to be held harmless from and indemnified against all loss and expense arising from such liability. Thus, the risk of a shareholder of a series of the Trust incurring financial loss on account of such shareholder liability should be limited to circumstances in which the series itself would be unable to meet its obligations.

We consent to the filing of this opinion with and as an exhibit to the Registration Statement.

 

		Very truly yours,
		/s/ Ropes & Gray LLP
		Ropes & Gray LLP