European Investment Giant Amundi Rolls Out Tokenized Share Class on Ethereum

Amundi is expanding its digital asset strategy with the launch of a tokenized share class for its euro cash fund, giving investors blockchain-enabled access and paving the way for faster, continuous trading.

The asset manager said Thursday that its Amundi Funds Cash EUR vehicle now operates through a dual structure. Investors can continue to buy the standard share class using cash, or opt for a tokenized version recorded on the Ethereum (ETH) blockchain. The first transaction using the new setup was completed on Nov. 4. The initiative was developed with CACEIS, which provides the digital wallets and blockchain infrastructure for processing subscriptions and redemptions.

By converting fund shares into blockchain-based entries, tokenization aims to streamline settlement and improve transparency. “The fund uses distributed ledger technology and the public Ethereum blockchain to ensure transparent record-keeping of fund units and traceability of transactions,” Amundi said in its statement.

The move reinforces Europe’s position at the forefront of regulated tokenized investment funds. Managers in Luxembourg, France, and Germany have spent years rolling out blockchain-native products under regulatory regimes that offer clear guidance for issuing and storing digital fund units.

CACEIS added that investors will ultimately be able to transact in the fund using stablecoins or central bank digital currencies (CBDCs). “With the new hybrid Transfer Agent service, our clients can easily open a blockchain-based distribution channel to their investors,” said CACEIS CEO Jean-Pierre Michalowski.

“This marks a significant step toward enabling 24/7 subscriptions and redemptions for fund units, payable in stablecoins or — once available — CBDCs,” he said.