Europe's Largest Asset Manager Brings Tokenized UCITS Fund to Solana
Amundi, Europe's largest asset manager with €2.4 trillion in assets under management, and tokenization platform Spiko, which oversees about $1.7 billion, have announced an expanded rollout of their tokenized fund on Solana. The move migrates the Spiko Amundi Overnight Swap Fund (SAFO) to the Solana blockchain.
The announcement was delivered by Paul-Adrien Hyppolite, CEO of Spiko, during the House of Sol institutional conference series in London.
SAFO is structured as a UCITS vehicle (Undertakings for Collective Investment in Transferable Securities), a European framework designed to enable the cross-border distribution and marketing of mutual funds across EU member states. Legally, SAFO is established as a tokenized sub-fund under S PIKO SICAV and remains subject to French regulatory oversight.
The fund is positioned as a cash-management and treasury-operations tool for large corporates and institutions. It uses total return swap arrangements that are fully backed and collateralized by Tier 1 banking counterparties, with BNP Paribas named as the initial counterparty.
On-chain processing includes the publication and handling of Net Asset Value (NAV) data via decentralized oracles from the Chainlink network.
The rollout comes as Solana's real-world asset (RWA) segment posts new highs. Data from RWA.xyz shows Solana's RWA total value locked reached an all-time high of $2,420 million by the end of the week. The same dataset counts 216,000 unique addresses holding fixed-income or treasury tokens on the network, and indicates $3,390 million in cumulative institutional asset transfer volume over the last 30 trading days.
RWA.xyz's metrics point to a shift in Solana's activity from primarily retail-driven flows toward regulated, corporate-facing applications, echoing broader moves by traditional finance firms. In March, Franklin Templeton partnered with DeFi protocol Ondo to develop tokenized exchange-traded fund issuance. Earlier this month, State Street and Galaxy Asset Management introduced the SWEEP private liquidity fund on Solana, a product that, according to its issuance prospectus, allows corporate stablecoin holders to earn yields linked to Treasury bills.
Competition has also expanded with Bitwise's launch of the $USCC indexed fund, developed with Superstate, which began operations with $267 million in assets under management.
According to the plan outlined, testnet subscriptions and the subsequent enablement of digital share issuance of the SAFO fund for professional investors are expected at the start of the next fiscal quarter.
