The iShares S&P GSCI Commodity-Indexed Trust is an exchange-traded product (ETP) managed by BlackRock that gives investors exposure to a diversified basket of commodity futures. The Trust holds long positions in exchange-traded futures contracts on the S&P GSCI Excess Return Index, plus cash and U.S. Treasury securities as collateral, in order to track the S&P GSCI Total Return Index. That index is production-weighted and covers physical commodities across energy, metals, livestock, and agriculture, with a heavy tilt toward energy — Brent Crude and WTI Crude together make up roughly 36% of the index. The Trust is a passive vehicle; it does not trade to generate profit but simply holds futures and collateral to replicate the index as closely as possible. Investors earn returns from two sources: gains or losses on the futures positions, and interest on the collateral assets. A key operational feature is contract rolling — because futures expire, the Trust periodically closes expiring positions and opens new ones, which can create return drag or benefit depending on whether markets are in contango or backwardation. BlackRock earns revenue through a Sponsor's Fee accruing daily at an annualized rate of up to 0.75% of the Trust's net asset value. Shares trade on NYSE Arca, making commodity exposure accessible to retail and institutional investors without requiring direct futures trading. New shares are issued and redeemed only in 50,000-share blocks through a small group of authorized participants including Goldman Sachs, J.P. Morgan, and Morgan Stanley.