Baillie Gifford Brings Tokenized Fund BAGEY to Solana
UK asset manager Baillie Gifford issues what Solana calls the first fully native, UK-regulated tokenized fund on Solana — settled through BNY's Digital Transfer Agent.
What Happened
UK asset manager Baillie Gifford is bringing a tokenized fund with the ticker BAGEY to Solana. According to Solana’s announcement, it is the first fully native, UK-regulated tokenized fund on the chain. Settlement runs through BNY’s Digital Transfer Agent — the Bank of New York Mellon, one of the world’s largest custodians.
What It Means
“Fully native” in this context means: the fund shares are maintained directly on-chain, rather than an existing product being mirrored after the fact. The transfer agent — the entity that keeps a fund’s shareholder register — operates on-chain.
The issuance joins a series of institutional products on Solana: most recently, Morgan Stanley announced a Solana trust, while tokenized stocks are growing as a product class of their own. A tokenized fund is distinct from those: it doesn’t mirror a single stock, but runs a regulated investment vehicle with its own register on-chain.
The Context of the Announcement
Solana’s post references Financial Times reporting on the issuance. Baillie Gifford manages several well-known investment trusts and ranks among the UK’s larger active asset managers.
Note: This is reporting, not investment advice.
What to Watch
- Whether further regulated fund issuances follow on Solana
- How on-chain share registry operations develop in practice
- Whether other transfer agents follow BNY’s model
Sources
- Solana — Announcement of the BAGEY issuance on X
- SOLANA·HUB news: Morgan Stanley Announces Solana Trust
- SOLANA·HUB knowledge: Tokenized Stocks (xStocks) on Solana