According to online reports, Baillie Gifford, one of the UK's largest mutual funds with assets under management of 197 billion pounds, announced that it has chosen Ethereum to launch a fully tokenized UCITS fund. The regulated Strategic Bond Feeder Fund is also a tokenization pilot project for the fund giant. The UCITS fund is a special investment vehicle in the European Union. It is called the Transferable Securities Collective Investment Plan and specializes in investing in negotiable securities. As part of the pilot, Baillie Gifford plans to hold the fund's tokens in a self-managed wallet, and it is understood that during the pilot period the tokenized fund will be used exclusively by a selected group of whitelisted customers.