Amundi, the latest asset manager in Europe, has tokenized one of its money market funds on Ethereum. The 5B EUR fund is now available both through traditional channels and in its tokenized form.
Amundi has tokenized the AMUNDI FUNDS CASH EUR fund, a facility with 5B EUR. The fund chose Ethereum to offer an alternative channel. Money funds are a conservative and liquid investment, where price discovery does not depend on blockchain events.
“Tokenization is a transformation that will accelerate globally in the coming years. This first initiative demonstrates our expertise and we will continue expanding our projects to benefit our clients in France and internationally,” said Jean-Jacques Barbéris from Amundi.
The tech infrastructure for the fund will be provided by CACEIS, a major digital asset hub for European companies, and a top European transfer agent. CACEIS will control the technology to tokenize the fund units, build digital portfolios for investors, and handle subscriptions and redemptions.
CACEIS announced the fund will be available through stablecoins, or eventually official digital currencies. Subscriptions and redemptions will be available around the clock with no breaks.
Tokenized money market funds expand in 2025
Amundi follows the general growth of tokenized money market funds. Recently, the sector expanded to $9B in value under management, sparking a warning from the Bank of International Settlements (BIS).
Tokenized funds are usually sold to selected clients and used as a liquid, secure collateral for the creation of stablecoins. Those tokens are rarely traded as general Ethereum assets, and do not spread across unvetted DeFi protocols. Despite this, ongoing fund tokenization has raised the possibility for a bridge between traditional finance and on-chain value.
The current money fund market is still considered relatively small compared to general money market funds. In total, those funds represent over $7T in value, as the tokenized portion is barely making a dent. Despite this, even a small fraction moving to Ethereum has raised the concerns of regulators.
Ethereum remains a leader in RWA tokenization
Ethereum is still selected most often to launch new tokens, due to its legacy status. Its main competitors include Solana and Ondo’s native chain.
Tokenization on Ethereum expanded in 2025, with a proliferation of new tokenized money market funds. | Source: RWA.xyz.Tokenized assets have reached over $36B, with most of the value coming from private credit. Ethereum locks in nearly $12B in value, excluding the stablecoins.
Ethereum tokenized assets are diverse, and have grown across all categories. Most of the growth happened in 2025, with significant inflows from multiple US-based money market funds. Ethereum tries to position itself as the go-to chain for asset tokenization due to its security and legacy adoption.
To date, the chain carries 303 tokenized assets. Another 129 assets are tokenized through Arbitrum, one of the most active L2 chains from the Ethereum ecosystem.
BNB Chain comes a close second, with 112% tokenization growth in the past month. Solana is third, with a total of 88 tokenized assets and 14.5% growth for the past 30 days.
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Source: https://www.cryptopolitan.com/amundi-europe-tokenizes-money-funds-ethereum/
