Amundi puts a €22.8bn European share index fund on Ethereum
Why it matters
Amundi is taking blockchain fund units beyond cash-like money market funds into everyday share investing. Fund platforms and administrators will have to handle token and traditional versions of the same fund side by side.
Post to XThe short version
Asset manager Amundi said on 5 November it has launched a digital version of shares in one of its main European stock market index funds, which holds €22.8bn according to Ledger Insights. The new shares are recorded on Ethereum, a public blockchain, which is a shared online record of who owns what.
Here's what happened. Amundi has issued a tokenised share class, a digital version of fund units recorded on a blockchain, for one of its flagship European equity index funds. It runs on the public Ethereum network, the firm said.
Ledger Insights identifies the fund as Amundi's Core STOXX Europe 600 index fund, with €22.8bn in assets. Amundi's own announcement did not name the fund.
The token version sits inside the fund's existing set-up, and investors can still buy the fund through traditional channels, according to Amundi. It was built with CACEIS, which supplies the technology to turn fund units into tokens. Ledger Insights says CACEIS also acts as transfer agent, keeping the register of who owns the units.
Put it in context. Until now Amundi's tokenised products centred on money market funds, the cash-like funds where it launched its first token share class and accepted subscriptions in stablecoins. A mainstream share index fund is a step towards everyday investing.
The announcement gave no details on fees, minimum investments or who can buy the new shares.
Where this comes from
Written with AI from the sources above and checked against them before publishing. Here's how we work. This is news, not financial advice. Spotted a mistake? Tell us.