Europe’s largest asset manager Amundi debuts $100 million tokenized fund on Ethereum, Stellar
Amundi, Europe's largest asset manager with approximately $2.3 trillion in assets under management, has launched a tokenized fund on Ethereum and Stellar with $100 million in committed assets.
The Spiko Amundi Overnight Swap Fund, or SAFO, represents the Paris-based firm's second blockchain-based fund issuance in five months. The asset manager in November issued a tokenized share class of a money market fund on Ethereum in collaboration with CACEIS.
The fund is structured as a tokenized sub-fund of SPIKO SICAV, a SICAV regulated under French law, and is designed to meet treasury and collateral needs for corporates and financial institutions, according to a statement.
Amundi said SAFO offers fully collateralized total return swaps with top-tier banks to maintain overnight liquidity, subscription, and redemption in four currencies, including EUR, USD, GBP, and CHF.
The asset manager noted that the fund offers near-instant settlement, flexible custody options, real-time transparency of the shareholder register, and 24/7 borderless transferability of fund shares, with programmatic access available via API or smart contracts.
Per the statement, Amundi acts as the delegated investment manager for the fund, while CACEIS serves as the depositary bank and fund administrator. Spiko functions as the transfer agent, tokenization platform, and broker. Chainlink provides the underlying infrastructure to record the fund’s Net Asset Value on-chain across the Ethereum and Stellar networks.
The fund is currently accessible to eligible professional investors via Spiko, with the firm indicating plans to expand access through its API-enabled distribution network.
"SAFO provides professional investors with a fast and transparent access to cash management solutions. This initiative is part of our ambition to contribute to the rise of tokenized solutions," Jean-Jacques Barbéris, Head of Institutional and Corporate Clients, and ESG at Amundi, said in the statement.
Tokenized real-world assets near $52 billion
The tokenization of real-world assets on blockchains has expanded rapidly over the past year, rising from a market cap of $15.2 billion at the start of 2025 to nearly $52 billion as of March 19, according to The Block's data dashboard.
Ethereum currently leads the segment with a tokenized RWA market cap of $17.85 billion. The Provenance blockchain ranks second with $15.84 billion, boosted by issuance from Figure Technologies, the leading independent non-bank home equity line of credit originator in the U.S., which went public on the Nasdaq in September.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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