Amundi Launches Solana UCITS Fund, Elevating SOL to Institutional Status

Europe’s largest asset manager has placed Solana in the same institutional allocation tier as Ethereum and Bitcoin.

Amundi, which manages €2.4 trillion in assets under management (AUM) and is a subsidiary of Crédit Agricole, has announced a UCITS-compliant fund on the Solana blockchain in partnership with Spiko Finance, a tokenization specialist managing $1.7 billion.

This timing is significant. Solana has already attracted institutional infrastructure from major players such as Visa, PayPal, and Stripe, and US Solana spot ETFs have recently surpassed $1 billion in assets under management.

BREAKING: @Amundi_ENG, Europe’s largest asset manager (€2.4T AUM) and @Spiko_finance ($1.7B AUM) are launching a UCITS fund on @Solana pic.twitter.com/T0qa5jWWkc

— Solana (@solana) May 15, 2026

Amundi’s entry coincides with accelerating momentum rather than serving as a contrarian bet. It acts as a confirmation signal from the more conservative end of the European asset management industry.

The broader backdrop is not uniformly bullish. Goldman Sachs recently reduced its SOL exposure, a move that generated significant discussion regarding diverging institutional strategies.

Amundi going long while Goldman trims creates a two-sided institutional narrative that tends to compress short-term volatility while building structural demand over a longer horizon. Both positions reflect legitimate strategic logic, operating on different timeframes and risk mandates.

How the Amundi-Spiko UCITS Structure Works and Opens New Capital Channels for SOL

The mechanism is critical to understand. UCITS (Undertakings for Collective Investment in Transferable Securities) is the European Union’s harmonized regulatory framework for investment funds.

Just as spot ETFs serve as the gold standard for regulated, passportable fund structures in the US market, UCITS serves the same role for European institutional capital.

A UCITS fund approved in one EU member state can be distributed across the entire European Economic Area (EEA) without requiring separate fund registration in each jurisdiction. This passporting capability makes the launch structurally significant rather than merely symbolic.

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 (AMF).

SAFO generates yield via fully collateralized total return swaps with Tier-1 banks, with BNP Paribas as the initial counterparty. This makes it a cash-equivalent, swap-based treasury instrument rather than a direct SOL holding.

Together with @Amundi_FR, Europe’s largest asset manager, we’re thrilled to introduce the Spiko Amundi Overnight Swap Fund, or SAFO, a new tokenized fund optimized for cash and collateral management.
UCITS-compliant.
Built on fully collateralized total return swaps with… pic.twitter.com/JZt7oEahOe

— Spiko (@Spiko_finance) March 19, 2026

Spiko Finance acts as the transfer agent, tokenization platform, and broker, while CACEIS, Amundi’s custody affiliate, handles depositary and fund administration duties. This keeps 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 approximately $100 million in committed AUM at the time of the March 2026 expansion.

The European crypto regulatory environment under MiCA is progressively lowering barriers for this type of deployment, while the AMF framework provides the compliance perimeter that conservative institutional allocators—such as pension funds, corporate treasuries, and collateral managers—require before engaging with on-chain products.

Subscriptions and redemptions are denominated in EUR, USD, GBP, and CHF, with a minimum investment of one unit per currency class.

This structure effectively makes the product accessible to a 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 demand for regulated wrappers around non-BTC, non-ETH assets is now a global institutional theme, not just a regional experiment.