UK mutual fund Baillie Gifford launches fully tokenized UCITS fund on Ethereum

Golden Finance reports that Baillie Gifford, one of the largest mutual funds in the UK with assets under management of £197 billion, has announced the launch of a fully tokenized UCITS fund based on Ethereum. This regulated Strategic Bond Feeder Fund is also part of the fund giant's tokenization pilot project. UCITS funds are a special type of investment vehicle in the EU, formally known as Undertakings for Collective Investment in Transferable Securities, which specifically invest in transferable securities. As part of this pilot, Baillie Gifford plans to hold the fund's tokens in a self-custodied Wallet, and it is reported that during the pilot, the tokenized fund will be available exclusively to a select group of Allowlist clients.