Summary
- This pilot is the first blockchain-based UCITS tokenized fund to receive approval from the UK's Financial Conduct Authority (FCA).
- Baillie Gifford stated that this fund can enhance the efficiency and transparency of investment management on the public blockchain.
- The fund will be available only to a limited number of approved clients during the pilot phase and is operated for the purpose of technology verification and data acquisition.
A UCITS-structured tokenized fund utilizing blockchain technology has emerged in the UK.
On the 21st (local time), Theo Golden, Investment Manager at Baillie Gifford, announced on X (formerly Twitter), "We have launched the UK UCITS-based Strategic Bond Feeder Fund on a public blockchain for the first time in the UK." This fund is the first blockchain-based UCITS tokenized fund to be launched in pilot form after gaining approval from the UK's Financial Conduct Authority (FCA).
Golden stated, "Leveraging blockchain enables more efficient and transparent investment management," and added, "We are moving beyond simple attempts to shape the future of asset management." He also mentioned that this pilot was made possible through cooperation with UK financial authorities, the Investment Association, and the digital exchange Archax.
Meanwhile, the fund will only be available to a limited number of approved clients during the pilot phase and is intended to be operated for technology verification and data acquisition purposes.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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