Amundi, Europe’s largest asset manager, has launched its first tokenized share class for a euro money market fund in partnership with CACEIS, offering investors a new digital option via the Ethereum blockchain.
Key Takeaways
- Amundi has introduced a blockchain-powered version of its AMUNDI FUNDS CASH EUR money market fund, now available in both traditional and digital token formats.
- CACEIS provided the technical infrastructure, managing investor wallets and processing fund transactions on the Ethereum network.
- The tokenized fund offers faster execution and 24/7 accessibility, appealing to younger investors and enabling round-the-clock operations.
- Tokenized money market funds have surged, with global value locked jumping from $770 million in 2022 to $9 billion by October 2025.
What Happened?
Amundi has stepped into the blockchain space with a tokenized version of its flagship euro money market fund, marking a significant moment in the adoption of digital assets in traditional finance. The fund, developed in collaboration with asset-servicing firm CACEIS, is distributed in a hybrid format, allowing investors to choose between conventional fund access and blockchain-based digital tokens.
Europe’s biggest asset manager, Amundi, just rolled out its first tokenized share of a euro money market fund and they’re doing it on Ethereum.
— MANDO CT 🇮🇪 🇦🇪 🇬🇧 (@XMaximist) November 28, 2025
A clear sign that traditional finance is finally stepping deeper into blockchain. pic.twitter.com/DbcvuXx5N9
Blending Blockchain with Traditional Fund Management
The newly tokenized version of the AMUNDI FUNDS CASH EUR money market fund operates on the public Ethereum blockchain using distributed ledger technology. This enables transparent tracking of all transactions and improves record-keeping efficiency. The first tokenized transaction was recorded on November 4.
CACEIS supports the fund’s technical backend, including:
- Tokenization infrastructure.
- Digital investor wallets.
- A blockchain-compatible platform for subscription and redemption processes.
Jean-Jacques Barbéris, Amundi’s Head of Institutional and Corporate Clients and ESG, emphasized that tokenization is a global trend and described this initiative as a practical demonstration of Amundi’s capacity to integrate modern technology with its operational model. He stated that the firm will continue expanding its tokenization efforts while prioritizing security and scalability.
Why Tokenization Matters for Investors?
The tokenized fund provides several tangible benefits:
- Instant execution of transactions.
- Access for younger, tech-savvy investor groups.
- 24/7 availability for trading and fund management.
- Compatibility with stablecoins and future central bank digital currencies (CBDCs).
Jean-Pierre Michalowski, CEO of CACEIS, explained that the hybrid transfer agent service gives clients an additional distribution pathway through blockchain. He called the launch a “decisive step” toward enabling round-the-clock fund services and future payment integration with EMTs and CBDCs.
A Growing Market for Tokenized Funds
Amundi’s move comes amid a broader surge in tokenized money market funds. According to data from RWA.xyz:
- BlackRock’s blockchain money market fund has amassed $2.3 billion in digital assets.
- Franklin Templeton’s fund has grown past $826 million.
- The total value locked in such funds has soared from $770 million in 2022 to $9 billion by October 2025.
Both Franklin Templeton and BlackRock have broadened their tokenized products across multiple blockchains, reflecting the industry’s confidence in blockchain’s scalability and appeal.
However, a recent bulletin by the Bank for International Settlements (BIS) flagged potential risks tied to tokenized Treasury portfolios, warning that their use as collateral could introduce operational and liquidity vulnerabilities into the financial system.
CoinLaw’s Takeaway
I find Amundi’s move not just smart, but timely. In my experience, traditional finance often lags when it comes to adopting disruptive technology. So it’s refreshing to see a legacy institution like Amundi step up and embrace blockchain in a real-world product. This hybrid fund model isn’t just a tech demo, it’s a viable financial product that blends security, speed, and accessibility. With major players like BlackRock and Franklin Templeton also expanding in this space, I see tokenized funds becoming a mainstream part of portfolio management. Amundi’s scale and credibility could push more institutions to follow suit.
