Europe’s Largest Asset Manager Debuts First Ethereum-Based Tokenized Fund
European asset supervisor Amundi has introduced its first tokenized fund in partnership with CACEIS, operating on the Ethereum blockchain.
Amundi Launches Tokenized Fund On Ethereum
As per an announcement on the official web site, Amundi has launched the primary tokenized share of one in every of its cash market funds. Headquartered in France, Amundi is an asset supervisor that serves greater than 100 million customers worldwide and manages over $2.3 trillion in property. It’s the most important conventional asset supervisor in Europe and among the many high 10 globally.
The newest information means that the asset supervisor is now transferring into blockchain-based tokenization. A “tokenized” asset refers back to the digital illustration of a real-world asset, like a inventory or steel. “The tokenization of property is a change set to speed up within the coming years world wide,” mentioned Amundi’s Jean-Jacques Barbéris.
The fund that Amundi has tokenized is its AMUNDI FUNDS CASH EUR cash market fund. According to the web site description, this fund seeks to ship a return according to the European Central Bank fee.
The first transaction of the tokenized fund occurred on November 4th. The product is now distributed in a hybrid method, that means that customers can entry it by way of each the normal and tokenized share routes.
Amundi is leveraging the Ethereum blockchain for transactions of its tokenized fund. Ethereum, whose native token ETH is the second largest digital asset by market cap, hosts a vibrant ecosystem of DeFi and tokenized tasks, because of its good contracts system.
Amundi’s tokenization transfer is available in collaboration with CACEIS, a serious asset servicing agency in Europe. “CACEIS gives the know-how and infrastructure for tokenizing fund models, digital portfolios for buyers, and the digital order platform for subscriptions and redemptions,” mentioned the announcement.
Unlike conventional transaction methods, blockchains like Ethereum provide 24/7 availability 12 months spherical, with transfers that are typically quick and low-cost. Amundi famous that the tokenization transfer will deliver these advantages to buyers and fund unit operators.
Jean-Pierre Michalowski, CACEIS CEO, mentioned:
This is a decisive step in the direction of attaining our aim of providing 24/7 subscription and redemption providers for funding fund models payable in steady cash (EMT) or central financial institution digital forex when it turns into obtainable.
This new transfer isn’t the one digital-asset-related initiative by Amundi. As reported by The Big Whale co-founder Grégory Raymond in an X post in October, the European asset supervisor is making ready to launch its first Bitcoin exchange-traded notes (ETNs) in early 2026.
ETNs are funding automobiles that observe the value of an underlying asset and permit buyers to realize oblique publicity to its actions. “For Europe, Amundi’s entry is a game-changer,” famous Raymond. “It might propel the crypto ETP market to a different degree, and above all, deliver the institutional legitimacy that Bitcoin nonetheless lacked within the Old Continent.”
ETH Price
At the time of writing, Ethereum is buying and selling round $3,000, up greater than 11% over the past week.