Europe’s largest asset manager offers hybrid fund with blockchain-based shares on Ethereum, expanding access and 24/7 trading opportunities.
Amundi Introduces Tokenized Share Class
Amundi has unveiled its first tokenized share class for a euro money market fund, allowing investors to choose between the traditional fund and a blockchain-based version recorded on Ethereum. The first on-chain transaction was executed on November 4, marking a significant milestone in the adoption of tokenized financial products in Europe.
The hybrid rollout was developed with CACEIS, a European asset-servicing firm providing the tokenization infrastructure, investor wallets, and digital order system to manage subscriptions and redemptions. This approach is intended to streamline order processing, broaden investor access, and enable continuous trading, offering advantages over traditional fund structures.
Fund Composition and Management Scale
The tokenized fund invests in short-term, high-quality euro-denominated debt, including money-market instruments and overnight repurchase agreements with European sovereigns.
Amundi currently manages around €2.3 trillion ($2.6 trillion) in assets and serves more than 100 million retail clients globally, cementing its status as one of Europe’s largest asset managers.
Tokenized money market funds have seen rapid expansion in 2025, particularly those investing in U.S. Treasurys. According to RWA.xyz data:
- BlackRock’s on-chain money market product holds $2.3 billion in tokenized assets,
- Franklin Templeton’s tokenized fund exceeds $826 million.
Both firms are extending their tokenized offerings across multiple blockchains. Franklin Templeton joined the Canton Network on November 12, enabling its fund to operate in a permissioned ecosystem for institutional participants, while BlackRock added support for Aptos, Arbitrum, Avalanche, Optimism, and Polygon, expanding accessibility beyond Ethereum.
A recent Bank for International Settlements bulletin reported that tokenized money market funds grew to $9 billion by the end of October 2025, up from approximately $770 million at the end of 2023.
While adoption is accelerating, regulators warn that using tokenized Treasury portfolios as collateral could introduce operational and liquidity risks, highlighting the need for careful risk management as these digital investment vehicles scale.
Amundi’s Ethereum-based rollout represents a significant step in bridging traditional asset management with blockchain innovation, providing investors with flexible, on-chain access to money market investments while aligning with the broader trend of tokenized financial products.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.