Amundi, one of Europe’s largest asset managers, has taken a major step toward blockchain-powered finance by issuing a tokenized share class of its flagship Amundi Funds Cash EUR. Announced on Thursday, the launch brings one of the region’s most recognized euro cash funds onto the Ethereum blockchain, offering investors a new way to access and trade fund units through distributed ledger technology.
The new structure allows investors to choose between the traditional share class purchased with cash or a tokenized version recorded directly on Ethereum. According to Amundi, the first transaction using this hybrid setup was completed on Nov. 4. The company partnered with CACEIS, a European asset-servicing provider, which developed the digital wallets and platform supporting blockchain-based subscriptions and redemptions.
Tokenizing fund shares transforms them into secure, traceable blockchain records, enabling faster settlement, improved transparency, and enhanced auditability. Amundi emphasized that using the public Ethereum network strengthens transaction traceability and provides investors with a tamper-resistant view of unit ownership.
This initiative reinforces Europe’s growing lead in regulated tokenized fund offerings. Asset managers in Luxembourg, France, and Germany have embraced blockchain-native fund units for several years, supported by regulatory frameworks that clearly outline how digital shares can be issued, managed, and recorded.
CACEIS highlighted that investors will soon be able to subscribe to the fund using stablecoins or even central bank digital currencies (CBDCs) once available. CEO Jean-Pierre Michalowski noted that the hybrid Transfer Agent service opens a new distribution channel for asset managers seeking more efficient digital operations. He added that this launch marks a key milestone toward offering 24/7 subscriptions and redemptions settled through stablecoins or future CBDCs.
Amundi’s move reflects a broader industry trend toward tokenization, where traditional financial products are upgraded with blockchain efficiencies. As adoption expands, tokenized funds could play a central role in modernizing asset management and improving investor access across global markets.
