Amundi Launches Europe’s First Tokenized Money Market Fund

Amundi, Europe’s €2.2 trillion asset manager and one of the world’s tenth largest, has made financial history by launching the first tokenized money market fund in Europe. The AMUNDI FUNDS CASH EUR fund represents a strategic bridge between traditional finance and blockchain technology, offering investors the choice between conventional shares and blockchain-based tokens. This dual-distribution approach allows the €2.2 trillion asset manager to serve its 100 million clients across both traditional and emerging digital channels.

The initiative, announced on Thursday, saw its first transaction recorded on November 4 on the Ethereum network. Jean-Jacques Barbéris, Head of Institutional and Corporate Clients at Amundi, emphasized the significance of this development, stating: “The tokenization of assets is a transformation set to accelerate in the coming years around the world. This first initiative on a money market fund demonstrates our expertise and the robustness of our methodology in covering concrete use cases.” The move positions Amundi at the forefront of blockchain adoption in traditional asset management.

Amundi’s choice of Ethereum for its tokenization initiative reinforces the blockchain’s position as the industry leader for real-world asset (RWA) tokenization. According to data from RWA.xyz, Ethereum maintains approximately 64% market share of value in RWA tokenization, with this dominance climbing to over 72% when layer-2 networks are included. The platform also hosts more than 60% of stablecoins, further cementing its role as the preferred infrastructure for tokenized financial products.

The timing of Amundi’s launch coincides with record-breaking growth in the tokenized assets space. The total value of tokenized assets on-chain has reached an all-time high of $36 billion, according to RWA.xyz. Major traditional finance players have already established significant presence on Ethereum, with BlackRock’s BUIDL fund leading the pack at $2.3 billion in total asset value, while Franklin Templeton’s money market fund has accumulated more than $825 million in assets. Both funds maintain small tokenized shares on other blockchains, but Ethereum remains their primary platform.

CACEIS, Amundi’s technology partner, is providing the critical tokenization infrastructure and digital platform for subscriptions and redemptions. The fund utilizes distributed ledger technology and the public Ethereum blockchain to ensure transparent record-keeping of fund units and traceability of transactions. This technological foundation enables features such as instant orders and 24/7 access that traditional financial infrastructure cannot easily provide.

The launch represents more than just a technological upgrade—it signals a fundamental shift in how traditional asset managers approach digital transformation. With 5,700 professionals across 35 countries, Amundi’s embrace of blockchain technology demonstrates that tokenization is moving from experimental phase to mainstream implementation. The combination of Amundi’s scale and reputation with blockchain’s efficiency and transparency creates a powerful precedent for other traditional financial institutions considering similar moves into digital asset distribution.

As tokenized real-world assets continue their rapid growth trajectory, Amundi’s entry into this space with a money market fund—typically considered one of the most conservative investment vehicles—suggests that blockchain technology is gaining acceptance across the entire risk spectrum of traditional finance. This development not only validates Ethereum’s position as the leading RWA platform but also indicates that tokenization is becoming an essential capability for asset managers seeking to remain competitive in the evolving financial landscape.