Baillie Gifford Launches $BAGEY Enhanced Yield Fund as Native Onchain Bond Fund on June 22

According to Baillie Gifford's statement on June 22, the firm launched the Enhanced Yield Fund, identified by ticker $BAGEY, as a natively issued on-chain bond fund where the blockchain serves as the legal record of investor ownership rather than an off-chain registry.

The fund supports stablecoin subscriptions and operates within a UK regulated framework. Unlike traditional tokenized funds that use blockchain tokens as digital wrappers while maintaining ownership records in centralized databases, $BAGEY records investor ownership directly on the blockchain, making the token itself the authoritative source of truth for fund administration.