- Amundi launches the first tokenized money market fund share on Ethereum.
- The tokenized MMF operates via a hybrid model combining blockchain and traditional access.
- Blockchain enables 24/7 trading, instant settlement and transparent records.
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 share represents a major innovation in fund distribution, allowing investors to hold fund units in a digital format while maintaining traditional access channels to the fund.
A new digital frontier for money market funds
According to Amundi, the tokenized share was created in collaboration with CACEIS, one of Europe’s leading asset servicing providers.
CACEIS provides the technology 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, and paving the way for potential future operations involving stablecoins or central bank digital currencies.
The first transaction using the tokenized share took place on November 4, 2025, and the fund is now distributed under a hybrid model.
This means investors can continue to use traditional methods, while the new digital option allows fund units to be recorded as tokens on Ethereum, providing secure, transparent and traceable transaction records.
Benefits of integrating blockchain into an MMF
Blockchain technology offers multiple benefits for both investors and fund managers.
Orders can settle instantly, trading can occur around the clock, and transactions are recorded with full transparency.
The tokenized model also makes the fund more accessible to younger, digitally oriented investors, reflecting a shift toward faster and more accessible financial products.
Amundi stressed that this launch does not replace traditional fund access but rather provides an additional channel for investors.
The hybrid approach ensures the fund remains inclusive, combining the reliability of traditional distribution with the efficiency and innovation offered by blockchain technology.
Jean-Jacques Barberis, Head of Institutional & Corporate Clients and ESG at Amundi, described asset tokenization as a global transformation likely to accelerate in the coming years, and said this initiative serves as a practical demonstration of the company’s expertise in deploying secure and reliable 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 surged in 2025 — from $15.2 billion at the start of the year to $37.1 billion by the end of November.
Ethereum, where Amundi’s fund is hosted, ranks second globally 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 adoption of digital finance innovations.
Tokenized money market funds in particular have seen rapid adoption in recent years.
Industry figures indicate that products from major firms such as BlackRock and Franklin Templeton now manage billions in digital assets, and the total value of recorded tokenized funds rose from roughly $770 million at the end of 2023 to nearly $9 billion by October 2025.
Amundi’s launch positions the firm as a European leader, demonstrating a commitment to leveraging digital innovation while maintaining robust regulatory and operational standards.