Ethereum News Today: Amundi's Hybrid Model Bridges Blockchain and Traditional Finance Regulations

Amundi, Europe's largest asset manager, has launched its first tokenized share class of a money-market fund on the Ethereum blockchain, marking a significant step in the integration of blockchain technology into traditional finance. The product, labeled Amundi Funds Cash EUR – J28 EUR DLT, mirrors the structure of the fund's existing offering but represents investor units as blockchain tokens, accessible via digital wallets provided by CACEIS, a leading European asset-servicing firm. This hybrid model allows investors to subscribe through traditional channels or via Ethereum, with the latter enabling 24/7 settlements and transparent, tamper-proof record-keeping according to the announcement.

The initiative, developed in collaboration with CACEIS, leverages Ethereum's public ledger to enhance operational efficiency and expand access to new investor segments. Subscriptions and redemptions are processed through a blockchain-native platform, while maintaining compatibility with standard fund administration systems. Jean-Pierre Michalowski, CEO of CACEIS, emphasized that the rollout aligns with the firm's goal of enabling 24/7 subscription and redemption services for investment fund units, potentially payable in stablecoins or central bank digital currencies when available. Amundi's Head of Institutional and Corporate Clients, Jean-Jacques Barberis, noted that tokenization is a "transformation set to accelerate," with plans to expand similar initiatives globally according to the report.

The tokenized fund operates alongside the existing traditional structure, preserving the legal and regulatory framework while introducing blockchain-based record-keeping. Investors retain the option to access the fund through conventional distribution networks, with Ethereum serving as an additional channel for settlement and transparency. This approach avoids the legal complexities of fully on-chain fund structures, making it a pragmatic solution for institutional adoption. The move reflects broader trends in real-world asset (RWA) tokenization, which has seen rapid growth in 2025. The RWA market cap has surged from $15.2 billion at the start of the year to $37.1 billion as of November 27, with Ethereum hosting $12.4 billion in tokenized assets, trailing only Provenance's $13.9 billion.

Ethereum's role in this expansion is underscored by its dominance in stablecoin issuance and RWA transfer volume. Over the past 30 days, Ethereum-based RWA transfers reached $105.94 billion, while stablecoin transfers hit $2.73 trillion, highlighting the network's infrastructure maturity. Amundi's launch positions it as a key player in the RWA sector, which is attracting asset managers, fintech firms, and lenders seeking faster settlement and reduced operational friction. The hybrid model-combining traditional fund operations with blockchain-based ownership records-has emerged as the preferred path for regulated institutions, offering a predictable regulatory trajectory without overhauling existing legal architectures.

As tokenization gains traction, Amundi's initiative signals a shift toward broader adoption of blockchain in asset management. With more European firms expected to introduce tokenized share classes in the coming year, the industry may witness a redefinition of fund distribution, settlement, and investor access.