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Ahmed Barakat
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Solana News: Europe’s largest asset manager just put Solana in the same conversation as Ethereum and Bitcoin for institutional allocation.
Amundi, €2.4 trillion AUM, a subsidiary of Crédit Agricole, and the tenth-largest asset manager globally – has announced a UCITS-compliant fund on the Solana blockchain in partnership with Spiko Finance, a tokenization specialist managing $1.7 billion.
The timing matters. Solana has already been attracting institutional infrastructure from Visa, PayPal, and Stripe, and US Solana spot ETFs just crossed $1 billion in assets under management.
Amundi’s entry arrives as that momentum is accelerating, not as a contrarian bet. It is a confirmation signal from the most conservative end of the European asset management industry.
The backdrop is not uniformly bullish, however. Goldman Sachs recently reduced its SOL exposure, a move that generated significant desk chatter about diverging institutional strategies.
Amundi going long while Goldman trims creates exactly the kind of two-sided institutional narrative that tends to compress volatility in the short term and build structural demand over a longer horizon. Both positions reflect legitimate strategic logic, they are simply operating on different timeframes and risk mandates.
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Solana News: How the Amundi-Spiko UCITS Structure Actually Works – and Why It Opens a New Capital Channel for SOL
The mechanism here is worth understanding precisely. UCITS, Undertakings for Collective Investment in Transferable Securities, is the European Union’s harmonized regulatory framework for investment funds.
What UCITS is to European institutional capital, spot ETFs are to the US market: the gold standard for regulated, passportable fund structures.
A UCITS fund approved in one EU member state can be distributed across the entire EEA without requiring separate fund registration in each jurisdiction. That passporting capability is what makes this launch structurally significant rather than just symbolically noteworthy.
The specific product is the Spiko Amundi Overnight Swap Fund (SAFO), a UCITS sub-fund of the French-regulated SPIKO SICAV, overseen by the Autorité des marchés financiers.
SAFO generates yield via fully collateralized total return swaps with Tier-1 banks, BNP Paribas is the initial counterparty, making it a cash-equivalent, swap-based treasury instrument rather than a direct SOL holding.
Spiko Finance acts as transfer agent, tokenization platform, and broker; CACEIS, Amundi’s custody affiliate, handles depositary and fund administration duties, keeping the full traditional fund stack intact behind the token layer.
Solana becomes at least the eighth chain in what is effectively a multi-chain UCITS strategy. Amundi and Spiko previously deployed SAFO on Ethereum, Polygon, Arbitrum, Base, Starknet, Stellar, and Etherlink, with roughly $100 million committed AUM at the March 2026 expansion.
The European crypto regulatory environment under MiCA is progressively lowering barriers for this kind of deployment, and the AMF framework provides the compliance perimeter that conservative institutional allocators, pension funds, corporate treasuries, collateral managers, require before they can touch an on-chain product.
Subscriptions and redemptions are denominated in EUR, USD, GBP, and CHF, with a minimum investment of one unit per currency class.
That effectively makes the product accessible to a very wide range of European institutional adoption use cases, from large sovereign wealth allocators down to mid-market corporate treasury desks.
Parallel moves in Asia, including SBI Holdings filing for regulated crypto fund structures in Japan, confirm that regulated-wrapper demand for non-BTC, non-ETH assets is now a global institutional theme, not a regional experiment.
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