Amundi, Europe’s biggest asset manager, has made financial history by launching the first tokenized money market fund on the Ethereum blockchain.
This groundbreaking move bridges traditional finance with digital assets in a way never seen before in Europe.
The Paris-based company manages €2.2 trillion in assets and serves over 100 million clients worldwide. On November 4, 2025, Amundi recorded its first transaction for the tokenized fund on Ethereum’s public blockchain.
What Makes This Launch Special
The tokenized fund is a digital version of Amundi’s existing €5 billion AMUNDI FUNDS CASH EUR money market fund. This fund invests in safe, short-term European government bonds and high-quality euro investments.
What sets this apart is the hybrid approach. Investors can choose between traditional fund shares or the new blockchain-based tokens. Both options give access to the same underlying investments and returns.
The tokenized version, called “AMUNDI FUNDS CASH EUR J28 EUR DLT,” uses Ethereum’s blockchain to record ownership and track all transactions. This creates a permanent, transparent record that anyone can verify.
Jean-Jacques Barbéris, Head of Institutional and Corporate Clients at Amundi, explained the significance: “The tokenization of assets is a transformation set to accelerate in the coming years around the world. This first initiative demonstrates our expertise in covering concrete use cases.”
Technology Partnership Powers Innovation
Amundi partnered with CACEIS, a major European financial services company owned by Crédit Agricole. CACEIS built the technology infrastructure that makes tokenization possible.
The partnership provides several key services:
Digital wallets for investors
Blockchain-based order processing
24/7 subscription and redemption services
Secure token management systems
CACEIS CEO Jean-Pierre Michalowski highlighted the future vision: “This is a decisive step towards offering 24/7 subscription and redemption services for investment fund units payable in stablecoins or central bank digital currency when it becomes available.”
Source: RWAwatchlist_
The technology eliminates traditional banking hour restrictions. Investors can buy or sell fund shares any time of day, with near-instant settlement instead of waiting days for transactions to complete.
Growing Market for Tokenized Assets
Amundi’s launch comes as tokenized real-world assets experience explosive growth. The total value of tokenized assets reached $36.11 billion as of November 28, 2025, up from just $770 million at the end of 2023.
Ethereum dominates this space, hosting about 64% of all tokenized asset value. When including Ethereum’s layer-2 networks, this share grows to over 72%.
Major American asset managers have already entered this market. BlackRock’s tokenized money market fund holds $2.3 billion in assets, while Franklin Templeton’s fund manages over $826 million. However, Amundi’s launch marks the first major European entry into tokenized money market funds.
The tokenized treasury market has shown particularly strong growth, with products focused on U.S. government bonds leading adoption among institutional investors.
Benefits for Investors and Markets
Tokenization offers several advantages over traditional fund management:
24/7 Trading: Unlike traditional funds that process orders once daily, tokenized funds allow continuous trading and immediate settlement.
Transparency: All transactions are recorded on Ethereum’s public blockchain, providing complete visibility into fund operations.
Lower Costs: Automated smart contracts reduce the need for intermediaries, potentially lowering fees for investors.
Global Access: Blockchain technology enables international investors to participate more easily than through traditional banking systems.
Programmable Features: Smart contracts can automatically handle dividend payments, compliance checks, and other fund operations.
The hybrid model ensures investors aren’t forced to choose between old and new systems. Traditional investors can continue using familiar processes while tech-savvy clients explore blockchain benefits.
Regulatory Compliance and Security
Amundi maintains full regulatory compliance with European financial laws. The tokenized fund follows the same investment rules and restrictions as the traditional version.
The company emphasizes that tokenization adds a new distribution channel rather than replacing existing regulatory frameworks. All investor protections remain in place, including insurance and oversight by European financial authorities.
CACEIS provides institutional-grade security for the tokenization infrastructure. The system uses multi-signature wallets and other advanced security measures to protect investor assets.
Industry Impact and Competition
This launch positions Amundi as a leader in European financial innovation. The company joins a growing list of major financial institutions exploring blockchain technology for traditional asset management.
The move puts pressure on other European asset managers to develop similar offerings. As clients become more comfortable with blockchain technology, demand for tokenized investment products is expected to grow rapidly.
Market analysts project the tokenized asset industry could reach $30 trillion by 2034, according to Standard Chartered estimates. This represents enormous growth potential for early adopters like Amundi.
The success of this initial launch could pave the way for tokenizing other Amundi fund products, including equity funds, bond funds, and alternative investments.
Digital Finance Revolution Gains Steam
Amundi’s tokenized fund launch represents more than a technological upgrade—it signals mainstream acceptance of blockchain in traditional finance. Europe’s largest asset manager has validated the technology for institutional use, potentially accelerating adoption across the continent.
The hybrid approach offers a practical pathway for the financial industry’s digital transformation, allowing gradual migration rather than disruptive change. As regulatory clarity improves and technology matures, tokenized funds may become the new standard for asset management globally.