As of today there is not a raw Silverblue image to flash on an SD card, despite the fact that Silverblue is available for aarch64 architectures.

In order to install Fedora Silverblue on the Raspberry Pi, there are various guides where you need to prepare the SD card adding UEFI and some other tricks.

So, why not install Fedora IoT, then rebase to Fedora Silverblue? The power of ostree.

Install Fedora IoT: follow this guide https://docs.fedoraproject.org/en-US/iot/physical-device-setup/ or this one https://www.redhat.com/sysadmin/fedora-iot-raspberry-pi

When ready, log in, then add these remote repositories (the ones you can find on a freshly installed Silverblue):

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ostree remote add --set=contenturl=mirrorlist=https://ostree.fedoraproject.org/mirrorlist --set=gpgkeypath=/etc/pki/rpm-gpg/ fedora  https://ostree.fedoraproject.org
ostree remote add --set=gpgkeypath=/etc/pki/rpm-gpg/ fedora-compose https://kojipkgs.fedoraproject.org/compose/ostree/repo/

Info: https://docs.fedoraproject.org/en-US/iot/rebasing/

Then, rebase to Fedora Silverblue.

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rpm-ostree rebase fedora:fedora/39/aarch64/silverblue

Reboot.

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sudo systemctl reboot

Et voilà.