The Paris-based company manages €2.2 trillion in assets and serves more than 100 million customers worldwide. On November 4, 2025, Amundi recorded its first transaction for the tokenized fund on the Ethereum 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 provide access to the same underlying investments and returns.
The token version, called “AMUNDI FUNDS CASH EUR J28 EUR DLT”, uses the Ethereum blockchain to record ownership and track all transactions. This creates a permanent, transparent file that anyone can verify.
Jean-Jacques Barbéris, Head of Institutional and Corporate Clients at Amundi, explained the importance: “The tokenization of assets is a transformation that will accelerate across the world in the coming years. This first initiative demonstrates our expertise in covering concrete use cases.”
Technology partnership stimulates innovation
Amundi partnered with CACEIS, a major European financial services company owned by Crédit Agricole. CACEIS has built the technological 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 emphasized the future vision: “This is a decisive step towards offering 24/7 subscription and redemption services for mutual fund units, payable in stablecoins or central bank digital currencies as they become available.”
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The technology eliminates traditional banking hour restrictions. Investors can buy or sell fund shares at any time of the day, with near-instant settlement rather than waiting days for the transaction to complete.
Growing market for tokenized assets
The launch of Amundi comes at a time when tokenized real-world assets are experiencing explosive growth. The total value of the tokenized assets has been reached $36.11 billion as of November 28, 2025, compared to just $770 million at the end of 2023.
Ethereum dominates this space, hosting approximately 64% of all tokenized asset value. When we include Ethereum’s layer 2 networks, this share grows to over 72%.
Major US 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 more than $826 million. However, the launch of Amundi marks the first major European entry into tokenized money market funds.
The tokenized treasury market has shown particularly strong growth, with products focused on US 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 a day, tokenized funds enable continuous trading and instant settlement.
Transparency: All transactions are recorded on Ethereum’s public blockchain, providing full visibility into fund activities.
Lower costs: Automated smart contracts reduce the need for intermediaries, potentially lowering costs for investors.
Global access: Blockchain technology allows 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 transactions.
The hybrid model ensures that investors are not forced to choose between old and new systems. Traditional investors can continue to use familiar processes, while tech-savvy customers explore the benefits of blockchain.
Regulatory compliance and security
Amundi maintains full 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 supervision by the European financial authorities.
CACEIS provides institutional-level security for the tokenization infrastructure. The system uses multi-signature wallets and other advanced security measures to protect investors’ assets.
Impact and competition on the sector
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.
This move puts pressure on other European asset managers to develop similar offerings. As customers become more comfortable with blockchain technology, demand for tokenized investment products is expected to grow rapidly.
Market analysts predict that the tokenized asset industry could reach $30 trillion by 2034, according to estimates from Standard Chartered. This represents enormous growth potential for early adopters like Amundi.
The success of this initial launch could pave the way for the tokenization of other Amundi fund products, including equity funds, bond funds and alternative investments.
The digital financial revolution is gaining momentum
The launch of Amundi’s tokenized fund represents more than a technological upgrade; it signals the mainstream adoption of blockchain in the traditional financial world. Europe’s largest asset manager has validated the technology for institutional use, potentially accelerating adoption across the continent.
The hybrid approach provides a practical path for the digital transformation of the financial sector, enabling gradual migration rather than disruptive change. As regulatory clarity improves and technology matures, tokenized funds could become the new standard for asset management worldwide.
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