BAGEY, Baillie Gifford’s Enhanced Yield Fund, a regulated investment fund, is said to be the UK’s first authorized tokenized fund. According to a note from Anchorage Digital, it will provide digital asset custody for the offering, along with other services.
Baillie Gifford is a UK-based investment manager with 118 years of history.
The group quickly points out that this is not a “wrapper” but a tokenized asset that exists onchain. A BAGEY token is a share in the fund itself, which is an FCA-authorised OEIC. The fund includes T-bills but includes an actively managed, short-duration portfolio of corporate and sovereign bonds.
Anchorage Digital is the first federally regulated digital asset bank in the US.
Nathan McCauley, CEO and co-founder of Anchorage Digital, says BAGEY is the first fund to get this right: it is fully onchain, and Anchorage providing custody means professional investors get direct ownership in the fund while benefiting from a higher level of compliance.
“BAGEY is a new category of fund: the books and records live fully onchain, and eligible professional investors can subscribe and redeem in USDC in an instant rather than waiting days for settlement.,” says Sandy Jones, Director Digital Assets, at Baillie Gifford. “Partnering with Anchorage Digital gives our holders a custodian built for that structure, and access to onchain finance that a conventional custody arrangement could never offer.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!