Amundi, Europe's largest fund manager by assets under management, has launched a tokenized share class of its STOXX Europe 600 equity index fund on Ethereum, extending its blockchain-based investment offerings beyond money market funds.

The new share class was issued on Ethereum in collaboration with CACEIS, a European asset-servicing company that supplied the tokenization infrastructure. Amundi said in a Thursday announcement that the fund will remain available through traditional investment channels alongside the tokenized version.

Tokenization — the practice of representing fund shares as digital tokens on a blockchain — underpins the offering, letting fund units be recorded and moved using blockchain infrastructure. The fund tracks the STOXX Europe 600 Index, which covers 600 large-, mid- and small-cap companies across developed European markets. Amundi added that it plans to develop a broader range of tokenized funds for institutional clients and digital platforms, citing potential improvements in accessibility, settlement speed and operational efficiency.

The launch follows the asset manager's introduction of its first tokenized money market fund share class in November 2025, which was also developed with CACEIS on Ethereum.

Tokenized Stock Market Grows as US Companies Dominate

Amundi's move comes amid rapid growth in the global tokenized equities market, although the largest products remain concentrated in US-related assets.

The total value of tokenized stocks reached $4.24 billion as of Wednesday, Nov. 4, up nearly 27% over the past 30 days, according to RWA.xyz data. The platform's 10 largest tokenized equity products by value were all tied to US companies or US-listed securities, including Securitize, SpaceX, Circle and Alphabet.

Against that backdrop, Amundi's STOXX Europe 600 share class stands out as a tokenized equity product tied to a European index rather than a US company or US-listed security.

Meanwhile, European financial firms have been pressing regulators to accelerate reforms. In April, a coalition of 39 companies and industry groups warned that the European Union risked falling behind the United States in tokenized finance, calling for expanded asset eligibility, higher volume limits and the removal of time restrictions on licenses under the bloc's Distributed Ledger Technology (DLT) Pilot Regime — the EU framework that allows financial instruments to be issued, traded and settled using distributed ledger technology on a pilot basis. Amundi's stated plan to broaden its tokenized fund range, and the EU's response to those reform requests, are among the developments to watch as European tokenized finance evolves.

Source: Cointelegraph