Amundi Pioneers Ethereum Tokenization for Money Market Funds, Enabling 24/7 Trading
Introduction: A New Chapter for Institutional Digital Assets
In a landmark move for the digital finance landscape, European asset management giant Amundi has launched the first tokenised share of its money market fund on the Ethereum blockchain. This pioneering initiative for its AMUNDI FUNDS CASH EUR fund represents a significant stride in merging traditional finance with the innovative capabilities of blockchain technology. By adopting a hybrid model that integrates blockchain access with conventional channels, Amundi is not just experimenting with a new technology but is actively building a new distribution paradigm. This development enables 24/7 trading, instant execution, and transparent record-keeping, marking a pivotal moment in the ongoing tokenisation of real-world assets (RWA) and setting a new standard for institutional-grade financial products in Europe.
The Amundi-CACEIS Partnership: Building the Digital Infrastructure
The successful launch of Amundi's tokenised money market fund was made possible through a strategic collaboration with CACEIS, a leading European asset-servicing provider. This partnership underscores the critical role of specialized infrastructure in bringing traditional financial products onto the blockchain.
CACEIS supplied the essential technological backbone for the tokenisation process. This infrastructure includes digital wallets for investors to securely hold their tokenised fund units and a blockchain-based order platform that facilitates subscriptions and redemptions. The involvement of an established player like CACEIS provides a layer of trust and operational robustness that is crucial for institutional adoption. Jean-Pierre Michalowski, CEO of CACEIS, highlighted that their hybrid transfer agent service "opens a new distribution channel, allowing clients to quickly and efficiently execute fund transactions via blockchain while paving the way for potential future operations in stablecoins or central bank digital currencies." The first transaction for this tokenised share was successfully executed on November 4, 2025, formally inaugurating this new digital access route.
The Hybrid Model: Bridging Traditional and Digital Finance
A defining characteristic of Amundi's approach is its commitment to a hybrid model. This is not a wholesale replacement of existing systems but an augmentation, designed to broaden accessibility without alienating traditional investors.
Under this model, investors retain the ability to access the AMUNDI FUNDS CASH EUR money market fund through all conventional methods. Simultaneously, the new digital option allows fund units to be recorded as tokens directly on the Ethereum blockchain. This dual-access strategy ensures inclusivity, catering to both investors who prefer established processes and a new generation of digitally-native users. The blockchain-recorded tokens provide secure, transparent, and fully traceable transaction records, enhancing auditability and reducing operational friction. This careful balancing act demonstrates a pragmatic pathway for large financial institutions to innovate while managing risk and maintaining service continuity for their entire client base.
Operational Benefits: 24/7 Trading, Instant Execution, and Transparency
The integration of blockchain technology directly addresses several long-standing limitations of traditional fund management. The advantages extend beyond mere novelty, offering tangible improvements in efficiency and accessibility.
The most prominent benefit is the enablement of 24/7 trading. Unlike traditional financial markets that operate within specific hours and are closed on weekends and holidays, blockchain-based transactions can occur at any time. This provides investors with unprecedented flexibility to manage their portfolios. Furthermore, orders can be executed instantly, a significant upgrade from the typical T+1 or T+2 settlement cycles common in traditional finance. This immediacy reduces counterparty risk and improves capital efficiency for investors.
Finally, every transaction is immutably recorded on the Ethereum blockchain, creating a transparent and verifiable ledger of all fund activities. This transparency builds trust and simplifies compliance and reporting processes for both investors and fund managers.
Expanding Investor Reach and Aligning with Digital Trends
Beyond operational efficiencies, Amundi’s tokenisation initiative serves a strategic business objective: attracting a new demographic of investors. The launch reflects a clear recognition of shifting investor behaviours, particularly among younger generations who are more digitally oriented and expect faster, more accessible financial products.
By offering a digital entry point, Amundi positions itself to capture flows from this growing segment of the market. Jean-Jacques Barbéris, Head of Institutional and Corporate Clients and ESG at Amundi, described asset tokenisation as a "global transformation set to accelerate in the coming years." This initiative acts as a practical demonstration of Amundi's expertise in implementing secure and robust blockchain applications, enhancing its brand as an innovative leader in the asset management space.
Contextualizing the Launch: The Rapid Growth of Tokenised Real-World Assets
Amundi's entry into the tokenised fund space is part of a much larger, accelerating global trend. The tokenisation of real-world assets (RWA) has moved from a niche concept to a mainstream financial movement, with institutional participation growing exponentially.
Market data vividly illustrates this expansion. The total value of tokenised assets on blockchains surged from $15.2 billion at the beginning of 2025 to $37.1 billion by late November of the same year. Ethereum, the blockchain chosen by Amundi for its fund, is a central hub for this activity, ranking second globally in the tokenised RWA space with a market capitalization of $12.4 billion.
Within this broader RWA ecosystem, tokenised money market funds have been among the fastest-growing segments. Industry data shows that total value locked in tokenised funds exploded from approximately $770 million at the end of 2023 to nearly $9 billion by October 2025. Other major asset managers like BlackRock and Franklin Templeton have launched their own successful tokenised money market products, collectively managing billions in digital assets. Amundi’s launch firmly positions it as a European front-runner in this competitive and rapidly evolving space.
Strategic Conclusion: Setting the Stage for Mainstream Digital Finance Adoption
Amundi's launch of a tokenised money market fund on Ethereum is more than an isolated product release; it is a significant milestone in the maturation of digital asset markets. It signals that top-tier European financial institutions are now moving beyond exploratory phases into live implementation of blockchain-based solutions.
The impact of this development is multifaceted. For the crypto industry, it provides a powerful validation of Ethereum's utility as a platform for sophisticated institutional finance. For traditional finance, it demonstrates a viable model for integrating blockchain to enhance efficiency, transparency, and accessibility without discarding proven systems.
Looking ahead, readers should monitor several key developments. First, observe how other European asset managers respond to Amundi's move—will it trigger a wave of similar offerings? Second, watch for announcements regarding volume and adoption rates for this specific tokenised fund, as these metrics will be a concrete measure of market demand. Finally, pay close attention to Jean-Pierre Michalowski’s hint at "potential future operations in stablecoins or central bank digital currencies," as this suggests the current launch is merely the first step in a broader digital asset strategy for Amundi and its partners.
This initiative proves that the future of finance is not necessarily a radical overturning of the old system, but rather a thoughtful and strategic fusion of traditional reliability with digital innovation. As this hybrid model gains traction, it promises to make sophisticated investment strategies more accessible and efficient for a global audience.