- Amundi launches the first tokenized money market fund share on Ethereum.
- The tokenized MMF operates on a hybrid model combining blockchain and traditional approaches.
- Blockchain enables 24/7 trading, instant execution, and transparent recordkeeping.
European asset-management giant Amundi has taken a significant step into digital finance by launching the first tokenized share of its AMUNDI FUNDS CASH EUR money market fund on the Ethereum blockchain.
The tokenized fund represents an important innovation in fund distribution, allowing investors to hold fund units digitally while preserving traditional access channels.
A new digital frontier for money market funds
According to Amundi, the tokenized fund was developed in collaboration with CACEIS, one of Europe’s leading providers of asset servicing.
CACEIS supplies the technological infrastructure needed for tokenization, including digital wallets for investors and a blockchain-based order platform that supports subscriptions and redemptions.
Jean-Pierre Michalowski, CEO of CACEIS, emphasized that the hybrid transfer-agent service opens a new distribution channel, enabling clients to execute fund transactions quickly and efficiently via blockchain, while also laying the groundwork for potential future operations involving stablecoins or central bank digital currencies.
The first tokenized-share transaction took place on November 4, 2025, and the fund is now distributed through a hybrid model.
That means investors can continue to use conventional methods, but the new digital option allows fund units to be recorded as tokens on Ethereum, providing secure, transparent, and auditable transaction records.
Benefits of integrating blockchain into an MMF
Blockchain technology delivers multiple benefits for both investors and fund managers.
Orders can be executed instantly, trading can continue around the clock, and transactions are recorded with full transparency.
The tokenized model also appeals to younger, digitally native investors, reflecting a shift toward faster, more accessible financial products.
Amundi stresses that this launch does not replace the traditional approach to funds but offers investors an additional access route.
The hybrid model ensures the fund remains inclusive by combining the reliability of conventional distribution with the efficiency and innovation of blockchain technology.
Jean-Jacques Barbéris, head of institutional and corporate clients and ESG at Amundi, described asset tokenization as a global transformation that will accelerate in the coming years; this initiative serves as a practical demonstration of the firm’s expertise in deploying secure and robust blockchain applications in finance.
A growing trend in digital asset management
The launch comes amid broader expansion in tokenized real-world assets.
Market data show that the value of tokenized assets on blockchains rose sharply in 2025, from $15.2 billion at the start of the year to $37.1 billion by the end of November.
Ethereum, which hosts the Amundi fund, ranks among the top platforms for tokenized real-world assets, with a market capitalization of $12.4 billion.
This trend reflects growing institutional interest in blockchain-based investment solutions and the integration of digital financial innovations into mainstream finance.
Tokenized money market funds in particular have seen rapid adoption in recent years.
Industry figures indicate that products from leading firms such as BlackRock and Franklin Templeton now manage billions in digital assets, while the total value locked in tokenized funds rose from roughly $770 million at the end of 2023 to nearly $9 billion by October 2025.
Amundi’s market introduction places it among European leaders, underlining its commitment to leveraging digital innovation while maintaining robust regulatory and operational standards.