UK fund giant Baillie Gifford launches tokenization pilot project on Ethereum

According to Tom Wan, Head of Data at Entropy Advisors, Baillie Gifford, one of the UK's largest mutual funds with £197.0 billion in assets under management, has announced that it has chosen Ethereum to launch a fully tokenized UCITS fund. This regulated Strategic Bond Feeder Fund is also Baillie Gifford's tokenization pilot project.

It is reported that a UCITS fund is a special investment vehicle in the European Union, fully named Undertakings for Collective Investment in Transferable Securities, specializing in investing in tradable securities. As part of the pilot, Baillie Gifford plans to hold the fund's tokens in a self-custody wallet. During the pilot phase, the tokenized fund will be available exclusively to a selected group of whitelisted clients.