Amundi Launches First Tokenized Euro Money Market Fund

Amundi, the largest asset manager in Europe, has unveiled its inaugural tokenized share class for a euro money market fund. This new offering allows investors to choose between a traditional or a blockchain-based structure, with the first transaction taking place on the Ethereum network on November 4.

Key Takeaways

Amundi has launched its first tokenized euro money market fund, allowing investors to choose between traditional and blockchain models.
The fund’s debut transaction occurred on the Ethereum network on November 4.
Collaborating with CACEIS, Amundi aims to streamline order processing and improve accessibility.
Tokenized money market funds are gaining traction, with BlackRock and Franklin Templeton leading the way in significant asset growth.
There are concerns about potential risks associated with the increasing adoption of tokenized Treasury portfolios as collateral.

Amundi brings euro money market fund onchain with first tokenized share

The launch was executed in partnership with CACEIS, a European asset-servicing group that provided the necessary tokenization infrastructure, investor wallets, and an efficient digital order system for processing subscriptions and redemptions. As per the companies, the tokenization process simplifies order management, broadens access to new investor channels, and facilitates 24/7 trading.

Amundi’s fund primarily invests in high-quality, short-term euro-denominated debt, which mainly consists of money market instruments and overnight repurchase agreements with European sovereigns. According to their website, Amundi oversees approximately 2.3 trillion euros (equivalent to $2.6 trillion) in assets and caters to more than 100 million retail clients. The company is headquartered in Paris, France.

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Growth of Tokenized Funds Led by BlackRock and Franklin Templeton

In 2025, tokenized money market funds that invest in U.S. Treasurys have shown remarkable growth. Data from RWA.xyz indicates that BlackRock’s on-chain money market product presently holds $2.3 billion in tokenized assets, while Franklin Templeton’s money market fund boasts over $826 million in assets.

Tokenized U.S. Treasury funds. Source: RWA.xyz

Both investment funds continue to expand across various blockchains. On November 12, Franklin Templeton announced that its tokenization platform had joined the Canton Network. This integration allows its money market fund to function within a permissioned ecosystem specifically designed for financial institutions. Similarly, BlackRock has broadened the reach of its tokenized fund beyond Ethereum, now supporting Aptos, Arbitrum, Avalanche, Optimism, and Polygon.

A recent bulletin from the Bank for International Settlements revealed that the total value of tokenized money market funds surged to $9 billion by the end of October, a significant increase from approximately $770 million at the close of 2023. However, the report cautioned that the rising use of tokenized Treasury portfolios as collateral could introduce new operational and liquidity risks to the financial system.

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