Theo Golden, CFA
1.5K posts
@TFGolden
Head of Digital Assets @BaillieGifford. RTs/Tweets≠endorse. Views own, not financial advice.
As global finance is experiencing the next wave of technological upgrade via tokenization, evaluating structural efficiency, liquidity frameworks, and institutional readiness becomes paramount. Jointly organized by @BGDA_UK @ethereumhkhub @snzholding #BlockUnion, and co-hosted by @Sharplink @GSR_io @LidoFinance , the Asia Onchain Finance Summit brings together leaders across financial institutions, fintech and decentralized ecosystem to explore how institutional finance is evolving onchain. 📅 July 17, 2026 (Friday) | 14:30 The countdown is on 🇭🇰 Register now: luma.com/izc85bmc Here's a look at the key conversations shaping the programme 👇
Recently, @BGDA_UK, one of the UK's largest asset managers, launched the Baillie Gifford Enhanced Yield Fund ($BAGEY) on @ethereum. As a UK-regulated, natively tokenised fund, the blockchain serves as its legal register of record, setting a structural precedent for public blockchain settlement in the UK. The onchain structure removes offchain transfer agents and manual database reconciliation. → This is not a wrapper over a traditional fund; native onchain issuance means the token is the fund interest itself, with direct ownership of the underlying short-duration government and corporate bonds recorded on Ethereum. → Operating directly on a public L1 removes the intermediary layers characteristic of traditional wrapper structures → Ethereum’s public base layer provides transparency, auditability, and reduced transaction costs for regulated financial instruments Financial institutions like Baillie Gifford building on the Ethereum network as foundational infrastructure demonstrates regulatory acceptance of public mainnet settlement, countering the misunderstanding that institutions require private chains. Our team members are proud to have supported Baillie Gifford’s builders throughout the process - huge congratulations on the launch to all of the teams involved!
Today we introduce $BAGEY: the Baillie Gifford Enhanced Yield Fund. An actively managed bond fund, issued natively onchain, with the blockchain as the legal source of truth. Most tokenised funds are wrappers: a tokenised claim on a fund whose structure and ownership record live offchain. $BAGEY is different. No wrapper. The token is your holding in the fund, with ownership recorded onchain, and subscribe and redeem in stablecoins. All of it within a UK-regulated fund structure. That is what native means. $BAGEY, own it, natively.
We built our tokenisation around one rule: if you tokenise an asset, it has to be the same, but better. Most tokenised structures don't clear that bar. The token is a digital stand-in for something recorded offchain, so all the old complexity stays put. @TFGolden, our Head of Digital Assets, on what it means to do it properly: the asset is the token, with ownership recorded natively onchain. Own it, natively ↓
Today we introduce $BAGEY: the Baillie Gifford Enhanced Yield Fund. An actively managed bond fund, issued natively onchain, with the blockchain as the legal source of truth. Most tokenised funds are wrappers: a tokenised claim on a fund whose structure and ownership record live offchain. $BAGEY is different. No wrapper. The token is your holding in the fund, with ownership recorded onchain, and subscribe and redeem in stablecoins. All of it within a UK-regulated fund structure. That is what native means. $BAGEY, own it, natively.
