UK mutual fund Baillie Gifford launches fully tokenized UCITS fund on Ethereum
Baillie Gifford, one of the UK’s largest mutual funds with £197 billion in assets under management, has announced the launch of a fully tokenized UCITS fund on Ethereum. This regulated Strategic Bond Feeder Fund is also part of the fund giant’s tokenization pilot project. UCITS funds, or Undertakings for Collective Investment in Transferable Securities, are a special investment vehicle in the European Union designed to invest in transferable securities. As part of the pilot, Baillie Gifford plans to hold the fund’s tokens in a self-custodied wallet. It is reported that during the pilot phase, the tokenized fund will be available exclusively to a select group of whitelisted clients.
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