European asset manager Amundi has teamed up with CACEIS to announce the first tokenized fund running on the Ethereum blockchain.
Amundi launches tokenized fund on Ethereum
According to an announcement on its official website, Amundi is the first money market fund to launch tokenized stocks. Headquartered in France, Amundi is an asset manager serving more than 100 million users worldwide and managing more than $2.3 trillion in assets. It is the largest traditional asset manager in Europe and one of the top 10 asset managers in the world.
According to the latest news, asset managers are now turning to blockchain-based tokenization. A “tokenized” asset refers to a digital representation of a real-world asset, such as a stock or metal. “The tokenization of assets is a change that will accelerate globally in the coming years,” said Jean-Jacques Barbéris of Amundi.
The fund tokenized by Amundi is the AMUNDI FUNDS CASH EUR money market fund. According to the website description, the fund seeks returns in line with European Central Bank interest rates.
The first transaction of the tokenized fund occurred on November 4. Products are now deployed in a hybrid manner. This means that users can access your product through both traditional and tokenized shared paths.
Amundi is leveraging the Ethereum blockchain for tokenized funds 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 move was made in collaboration with CACEIS, a leading European asset servicing company. “CACEIS provides the technology and infrastructure for fund-level tokenization, digital portfolios for investors, and a digital ordering platform for subscriptions and redemptions,” the release said.
Unlike traditional trading systems, blockchains like Ethereum offer 24/7 availability and transfer speeds are fast and cheap. Amundi noted that the tokenization movement will bring these benefits to investors and fund unit operators.
CACEIS CEO Jean-Pierre Michalowski said:
This is a decisive step towards achieving the goal of providing 24/7 subscription and redemption services for investment fund units once stablecoins (EMTs) or central bank digital currencies are launched.
This new move isn't Amundi's only digital asset-related initiative. As The Big Whale co-founder Grégory Raymond reported in an October X post, the European asset manager is preparing to launch the first Bitcoin exchange-traded note (ETN) in early 2026.
ETNs are investment vehicles that track the price of an underlying asset and provide investors with indirect exposure to its movements. “For Europe, Amundi’s presence is a game changer,” said Raymond. “This could take the cryptocurrency ETP market to the next level and, above all, bring the institutional legitimacy that Bitcoin still lacks in the Old World.”
ETH price
As of this writing, Ethereum is trading at around $3,000, up more than 11% over the past week.
The price of Ethereum seems to have been climbing in recent days | Source: ETHUSDT on TradingView
Featured image of Dall-E, chart from TradingView.com
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