Europe’s largest asset manager, Amundi, overseeing €2.4 trillion in assets, has teamed up with Spiko Finance to introduce a new tokenized fund on the Solana blockchain. This UCITS-compliant fund, named SAFO, marks the eighth blockchain integrated into their strategy. Spiko Finance handles tokenization and brokerage, while CACEIS, an Amundi affiliate, manages depositary and fund administration duties.
SAFO is structured as a sub-fund under the SPIKO SICAV legal entity, regulated by France’s AMF. It relies on total return swap contracts fully backed by top-tier banks like BNP Paribas. Investors can subscribe or redeem in euros, US dollars, British pounds, or Swiss francs, with a minimum investment of one unit per currency class.
This launch coincides with US Solana spot ETFs surpassing $1 billion in assets under management, signaling a shift from purely American institutional adoption to a transatlantic trend. Our data shows roughly 30 institutions held about $540 million in Solana ETF exposure by March 2026, a figure now bolstered by European inflows.
Interestingly, Goldman Sachs has decreased its SOL holdings while Amundi expands, creating a dual institutional narrative that could foster long-term demand. Endowments like Dartmouth have also added Solana ETF positions, as regulated products lower barriers for conservative investors.
The UCITS framework allows SAFO to be distributed across all EU member states under a single regulatory umbrella, eliminating cross-border compliance issues that previously hindered European institutional involvement in on-chain assets. As of March 2026, the fund had around $100 million in committed assets across its other seven blockchain deployments.
Solana was selected due to its high transaction throughput and growing institutional infrastructure. Notably, Morgan Stanley has refiled a staked Solana ETF application, suggesting simultaneous pressure from both US and European institutional channels.