European asset manager Amundi has announced its first tokenized fund in partnership with CACEIS, running on the Ethereum blockchain.
Amundi launches a tokenized fund on Ethereum
In accordance with an announcement on the official website, Amundi has launched the first tokenized share of one of its money market funds. Headquartered in France, Amundi is an asset manager that serves more than 100 million users worldwide and manages more than $2.3 trillion in assets. It is the largest traditional asset manager in Europe and among the top 10 in the world.
The latest news suggests that the asset manager is now moving towards blockchain-based tokenization. A “tokenized” asset refers to the digital representation of a real-world asset, such as a stock or metal. “The tokenization of assets is a transformation that will accelerate in the years to come all over the world,” said Jean-Jacques Barbéris of Amundi.
The fund that Amundi has tokenized is its money market fund AMUNDI FUNDS CASH EUR. According to the website description, this fund seeks to generate a return in line with the European Central Bank rate.
The first transaction of the tokenized fund took place on November 4. The product is now distributed hybridly, meaning users can access it through both traditional and tokenized sharing routes.
Amundi leverages the Ethereum blockchain for its tokenized fund transactions. Ethereum, whose native token ETH is the second largest digital asset by market capitalization, hosts a vibrant ecosystem of DeFi and tokenized projects, thanks to its smart contract system.
Amundi’s tokenization project is carried out in collaboration with CACEIS, a leading asset services company in Europe. “CACEIS provides the technology and infrastructure for the tokenization of fund shares, digital wallets for investors and the digital order platform for subscriptions and redemptions,” the announcement said.
Unlike traditional transaction systems, blockchains like Ethereum offer 24/7 availability all year round, with transfers generally fast and cheap. Amundi noted that the tokenization movement would bring these benefits to investors and fund share operators.
Jean-Pierre Michalowski, Managing Director of CACEIS, declares:
This is a decisive step towards achieving our goal of offering 24/7 subscription and redemption services for investment fund units payable in stable coins (EMT) or central bank digital currency as soon as they become available.
This new initiative is not Amundi’s only initiative related to digital assets. As Grégory Raymond, co-founder of The Big Whale, reported in a post in October, the European asset manager is preparing to launch its first Bitcoin Exchange-Traded Notes (ETN) in early 2026.
ETNs are investment vehicles that track the price of an underlying asset and allow investors to gain indirect exposure to its movements. “For Europe, the entry of Amundi is a game-changer,” notes Raymond. “This could propel the crypto ETP market to another level, and above all, bring the institutional legitimacy that Bitcoin still lacked on the Old Continent.”
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