Baillie Gifford Issues Native Tokenized Fund on Ethereum and Solana

Baillie Gifford, a 118-year-old Edinburgh asset manager, has launched the first native UK-regulated tokenized fund on public blockchains. The Enhanced Yield Fund (BAGEY) issues investor shares directly on Ethereum and Solana rather than as wrapped representations.

This marks a significant shift in tokenised funds, which have grown rapidly since 2024 but typically issue digital wrappers holding claims to existing shares off-chain. In contrast, BAGEY's structure issues tokens that are the actual share, not a representation of one.

Eligible professional investors can mint and redeem fund tokens directly, with daily dealing and a daily net asset value (NAV) anchoring the structure to conventional regulated funds. The minimum investment sits at just $100, lowering the entry barrier compared to typical institutional bond funds.