EL7.AI
CryptoMedium•21 October 2026•
4 min read

Euro Share Class of Tokenized Spiko Amundi Fund Reaches 1.76 Billion Euros in Assets

Key Facts

1Total assets in the Smart Cash EUR share class stood at about 1.76 billion euros when viewed on 21 October 2026.
2Money held across all Spiko funds reached $2.7 billion, growing more than fivefold over 12 months.
3The Spiko Amundi Overnight Swap Fund had more than $1 billion in assets and 6,500 users, according to the July update.
4The euro share class displays a management fee of 0.25% and subscription and redemption fees of 0.00%.

Assets in the euro share class of the Spiko Amundi Overnight Swap Fund stood at about 1.76 billion euros, according to Spiko's official dashboard viewed on 21 October 2026. The figure represents total assets in the share class the company markets as Smart Cash EUR. Across its broader business, Spiko said in its October update that money held across all its funds had reached $2.7 billion. It added that these funds had grown more than fivefold over 12 months. The company's July update had put assets in the Spiko Amundi Overnight Swap Fund above $1 billion. In the same update, the company said the fund had more than 6,500 users, including companies, financial institutions and individuals.

The product is a tokenized sub-fund of Spiko's variable-capital investment company, governed by French law, according to Amundi documents. Its operating functions are divided among depositary, administrative management, transfer agency and brokerage roles. Spiko said CACEIS acts as the fund's depositary and also handles its administrative management. Spiko handles transfer agency and brokerage, according to the company's description of the participating entities' roles. When announcing the fund's launch, Amundi said the shareholder register was hosted on the Ethereum and Stellar networks. The fund's announced arrangement thus combines an investment structure governed by French law with a shareholder register hosted on blockchain networks.

The fund allows subscriptions and redemptions in euros, dollars, pounds sterling and Swiss francs, according to Amundi's launch statement. The company set the announced minimum for these transactions at 1 unit of the selected currency, whether euros, dollars, pounds sterling or Swiss francs. The euro share-class page displays a management fee of 0.25%, according to the snapshot viewed on 21 October 2026. The subscription fee displayed on the page is 0.00%, the same rate stated for redemptions. The product page describes its liquidity as "overnight liquidity," with settlement the following day. These terms appear in the euro share-class offering alongside the applicable management, subscription and redemption fees.

Smart Cash's mechanism involves holding a portfolio of equities while using a total return swap to neutralize exposure to their performance, according to Spiko's technical documentation. The company says in its product explanation: "Smart Cash holds a portfolio of equities, but your return does not depend on the stock market." The total return swap is reset to zero each business day, according to the technical description of the mechanism. On ratings, Spiko announced that Smart Cash EUR had received an AAAf fund credit quality rating from S&P Global Ratings. It added that the agency also assigned the product an S1+ fund volatility rating. The company's announcement thus combines a credit quality rating with a separate volatility rating.

In its July update, Spiko announced that shares in the Spiko Amundi Overnight Swap Fund could be pledged to borrow a euro stablecoin. The company identified the currency as EUR CoinVertible, issued by SG-FORGE, with fund shares used as collateral for borrowing. Separately, CACEIS announced on 8 October 2026 an initial investment of 100 million euros by Crédit Agricole Assurances in a tokenized Amundi fund. The statement named the product as Amundi Funds Cash EUR, in a transaction announced in collaboration with CACEIS. CACEIS's announcement on the tokenization of Amundi's first fund states that the fund uses distributed ledger technology and the public Ethereum network to register units and track transactions.

Regarding the expansion of the Spiko Amundi Overnight Swap Fund's technical infrastructure, its launch announcement included the possibility of adding other networks to the shareholder register. Amundi linked this possibility to investor demand, saying expansion was available "in response to investor demand." On return arrangements, Spiko said Smart Cash's yield spread was secured through an agreement with BNP Paribas. The agreement covers a notional amount of 1 billion euros, according to the company's product explanation. The yield spread is secured under this agreement until the end of 2027, the term Spiko specified for the announced arrangement with the bank.