Amundi, Europe’s largest asset manager, has launched its first tokenized share class for a euro money market fund, marking its move to bring part of the fund onchain.
The fund is now available in a hybrid format, letting investors choose between the traditional version and a new blockchain-based version recorded on Ethereum. The first transaction took place on Nov. 4.
The project was developed with CACEIS, the European asset-servicing group that supplied the tokenization platform, investor wallets, and the digital order system used for subscriptions and redemptions.
Amundi and CACEIS say tokenizing the fund can make order processing faster, open access to new types of investors, and support trading around the clock.
Amundi’s euro money market fund invests in short-term, high-quality euro-denominated debt, mainly money-market instruments and overnight repurchase agreements with European governments. The company manages about 2.3 trillion euros ($2.6 trillion) in assets and serves more than 100 million retail clients, according to its website. It is headquartered in Paris.
Tokenized fund growth continues
Tokenized money market funds tied to U.S. Treasurys have grown quickly in 2025. Data from RWA.xyz shows BlackRock’s onchain money market product now holds about $2.3 billion in tokenized assets, while Franklin Templeton’s fund has more than $826 million.
Both asset managers are expanding across multiple blockchains. On Nov. 12, Franklin Templeton said its tokenization platform had joined the Canton Network, giving its fund access to a permissioned system designed for financial institutions. BlackRock has also moved beyond Ethereum, adding support for Aptos, Arbitrum, Avalanche, Optimism, and Polygon.
A Bank for International Settlements bulletin released Wednesday said tokenized money market funds reached about $9 billion in value by the end of October, up sharply from roughly $770 million at the end of 2023. The report also warned that the growing use of tokenized Treasury portfolios as collateral could create new operational and liquidity risks for the financial system.
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