Overview
- Baillie Gifford announced the Baillie Gifford Enhanced Yield Fund, called BAGEY, in a June 22, 2026 press release as a U.K.‑regulated OEIC that will record ownership on Ethereum and Solana and target a roughly 7% yield for eligible investors.
- BNY will provide tokenization and wallet infrastructure and NatWest Trustee and Depositary Services will act as the fund’s depositary, and Baillie Gifford says the blockchain will serve as the official register of record so investors hold units directly.
- Independent on‑chain reporting the same day found a separate $BAGEY token trading on Solana with almost no liquidity and no verified link to Baillie Gifford, creating a clear risk that market participants could misattribute the token to the regulated fund.
- Crypto analysts warn that low price, few holders, and an absence of institutional confirmation are red flags for unaffiliated tokens using institutional names and that such tokens can mislead retail investors into buying worthless or risky assets.
- The launch builds on FCA pilot work that began in 2025 and comes as U.K. regulators move toward final rules in 2026, a process that will shape how regulated tokenized funds operate and how custodians and depositaries must verify on‑chain offerings.