PANews reported on June 21 that according to Tom Wan, the data head of Entropy Advisors, on X platform, Baillie Gifford, one of the UK's largest mutual funds with assets under management of 1.97 billion pounds, announced that it has chosen Ethereum to launch a fully tokenized UCITS fund. The regulated strategic bond feeder fund is also part of Baillie Gifford's tokenization pilot project.
It is understood that UCITS funds are a special investment tool in the EU, standing for Undertakings for Collective Investment in Transferable Securities, specifically investing in tradable securities. As part of this pilot, Baillie Gifford plans to hold the fund's tokens in a self-custodied wallet, and the tokenized fund will be available exclusively to a selected group of whitelisted clients during the pilot period.
