Europe’s Largest Asset Manager With €2.4T AUM Launches Its Tokenized Fund on Solana

Amundi, Europe’s largest asset manager with €2.4 trillion in assets under management, and tokenization platform Spiko have announced plans to bring the Spiko Amundi Overnight Swap Fund, known as SAFO, to Solana.

Paul-Adrien Hyppolite, CEO of Spiko, announced the launch during the House of Sol event in London, marking another step in Solana’s growing push into tokenized assets. Spiko currently manages about $1.7 billion in assets, while SAFO itself targets treasury and collateral management use cases for professional investors.

The product will launch as a UCITS fund on Solana. UCITS stands for Undertakings for Collective Investment in Transferable Securities, a European regulatory framework that allows regulated investment funds to operate across the European Union.

SAFO is structured as a regulated tokenized sub-fund of SPIKO SICAV and is regulated under French law. The product focuses on cash management and treasury operations for corporates and financial institutions seeking cash-equivalent exposure combined with blockchain-based settlement and transferability.

What Exactly is SAFO?

SAFO was initially introduced in March by Amundi and Spiko as a treasury management and collateral product for institutional users. The fund uses fully collateralized total return swaps with Tier 1 banking counterparties, beginning with BNP Paribas, to generate yields above risk-free benchmarks while maintaining overnight liquidity. Investors can subscribe and redeem in EUR, USD, GBP, or CHF, with minimum subscription amounts starting at just 1 unit of each currency.

The structure combines several traditional financial functions into a blockchain-enabled product. Amundi serves as delegated investment manager, while CACEIS acts as depositary bank and fund administrator. Spiko handles transfer agent responsibilities, tokenization infrastructure, brokerage functions, and subscription and redemption processing.

Chainlink provides the infrastructure for publishing the fund’s net asset value onchain. The shareholder register initially launched on Ethereum and Stellar, but the companies confirmed they planned to expand to additional blockchains based on investor demand. Solana now becomes part of that expansion strategy.

Solana’s Expanding RWA Ecosystem Hits Another ATH

The decision to expand SAFO to Solana reflects the blockchain’s growing role in tokenized finance. Solana has increasingly positioned itself as a destination for tokenized stocks, stablecoins, treasury products, and institutional settlement infrastructure. According to RWA.xyz data, Solana’s RWA ecosystem has reached a new all-time high of $2.42 billion.

The data also showed 216,000 RWA holders on the network. At the same time, Solana’s 30-day RWA transfer volume reached $3.39 billion.

Those figures show how Solana has evolved beyond retail trading and speculative token launches. Institutional participants increasingly view the network as infrastructure capable of supporting regulated financial products and large-scale settlement activity.

Institutional Tokenization Activity Keeps Expanding

The SAFO expansion follows several major tokenization announcements involving traditional financial firms and blockchain infrastructure providers. In March, Franklin Templeton announced plans to tokenize ETFs in partnership with Ondo.

Meanwhile, State Street and Galaxy Asset Management launched the State Street Galaxy Onchain Liquidity Sweep Fund, known as SWEEP, on Solana earlier this month. The private liquidity fund allows stablecoin holders to generate yield on idle capital.

Bitwise also entered the sector earlier this month, launching its first tokenized fund, $USCC, in partnership with Superstate. The product launched with $267 million in AUM and focuses on institutional yield generation strategies tied to digital asset markets.

The addition of Amundi’s SAFO connects one of Europe’s largest traditional asset managers with one of crypto’s fastest-growing tokenized asset ecosystems.

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