Baillie Gifford has launched the Baillie Gifford Enhanced Yield Fund on 22 June 2026, a US‑dollar product created directly on the Ethereum and Solana blockchains.
Fund Design and Strategy
The new fund offers eligible investors a short‑duration, actively managed portfolio of public corporate bonds. It is structured as a traditional bond fund but issued onchain, allowing the blockchain to serve as the official register of record.
Technology and Tokenisation
BNY supplies the tokenisation and wallet infrastructure, while NatWest Trustee and Depositary Services functions as the fund’s depositary. By settling in USDC, a stablecoin pegged to the US dollar, the fund eliminates the intermediary layer that typically separates a fund from its token representation.
Investor Impact
Investors receive direct ownership and recourse through the blockchain, bypassing the need for a separate token wrapper. This architecture aligns the fund with the broader crypto market, offering a streamlined on‑chain experience for bond investors.