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Thursday Nov 27 2025 20:30
2 min
Amundi, the leading European asset manager, has announced the launch of its first tokenized share class for a euro money market fund. This marks a significant development in the adoption of blockchain technology within the traditional finance sector. The fund is now offered in a hybrid structure, allowing investors to choose between the traditional version and the new blockchain-based one. The first transaction was recorded on the Ethereum network on November 4th.
This initiative was developed in collaboration with CACEIS, a European asset-servicing group that provided the tokenization infrastructure, investor wallets, and the digital order system used to process subscriptions and redemptions.
According to the companies, tokenizing the fund streamlines order processing, widens access to new investor channels, and enables 24/7 trading. Amundi stated that the fund holds short-term, high-quality euro-denominated debt, primarily comprising money-market instruments and overnight repurchase agreements with European sovereigns.
Amundi manages approximately 2.3 trillion euros ($2.6 trillion USD) in assets and serves over 100 million retail clients. The company is headquartered in Paris, France.
Tokenized money market funds investing in US Treasuries have experienced rapid growth in 2023. Data from RWA.xyz indicates that BlackRock's on-chain money market product currently holds $2.3 billion USD in tokenized assets, while Franklin Templeton's money market fund possesses over $826 million USD in assets.
Both funds have been expanding across multiple blockchains. On November 12th, Franklin Templeton announced that its tokenization platform joined the Canton Network, enabling its money market fund to operate within a permissioned ecosystem built for financial institutions. BlackRock has also expanded its tokenized fund beyond Ethereum, adding support for Aptos, Arbitrum, Avalanche, Optimism, and Polygon.
A bulletin from the Bank for International Settlements (BIS) released on Wednesday noted that tokenized money market funds had climbed to $9 billion USD in value by the end of October, up from approximately $770 million USD at the end of 2022.
However, the report cautioned that the growing adoption of tokenized Treasury portfolios as collateral could expose the financial system to new operational and liquidity vulnerabilities.
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