Europe’s largest asset manager launches a tokenized fund on Ethereum

Europe’s leading asset manager Amundi is launching the first tokenized money market fund and has chosen the Ethereum blockchain.

The fund used distributed ledger technology and the public Ethereum blockchain “to ensure transparent recording of fund units and traceability of transactions,” according to technology partner CACEIS.

CACEIS provides the tokenization infrastructure and a digital platform for subscriptions and redemptions. The first transaction was recorded on the Ethereum network on November 4.

Europe’s €2.2 ton asset manager

Amundi is the largest asset manager in the region and one of the tenth largest in the world, with approximately €2.2 trillion in assets under management. It serves 100 million customers, including individuals, institutions and companies, and employs 5,700 professionals in 35 countries.

The tokenization initiative on Ethereum represents Amundi’s move toward digital asset distribution, putting the company at the forefront of blockchain adoption in traditional asset management.

🚨 BREAKING: 🇪🇺 Amundi, Europe’s largest asset manager, has launched the first tokenized money market fund.

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“The tokenization of assets is a transformation that will accelerate in the coming years around the world. This first initiative for a money market fund demonstrates our expertise and the robustness of our methodology in covering concrete use cases,” said Jean-Jacques Barbéris, Head of Institutional and Corporate Clients at Amundi.

This move is a significant development for Ethereum and solidifies its position as the market leader in tokenizing real-world assets.

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The value of tokenized assets on the chain is currently at a record high of $36 billion, according to to RWA.xyz.

Ethereum still dominates RWA tokenization

Ethereum remains the dominant player in the sector for RWA with a market share of approximately 64% by value. This dominance increases to over 72% when layer 2 networks are included. Ethereum also hosts more than 60% of stablecoins, RWA.xyz reports.

The BlackRock BUIDL fund is the largest on Ethereum with a total asset value of $2.3 billion, while Franklin Templeton’s money market fund has more than $825 million in assets. Both funds also have a small stake in other chains.