European Investment Giant Unveils Landmark Solana-Based Vehicle with €2.4 Trillion in Institutional Clout

In a significant development, Amundi, the European asset management giant overseeing €2.4 trillion in assets, has collaborated with Spiko Finance to introduce the SAFO fund on the Solana blockchain. This move marks the eighth blockchain platform to host the UCITS-compliant tokenized fund, which is administered by Spiko Finance as the transfer agent, tokenization platform, and broker, while CACEIS, Amundi's affiliate, handles depositary and fund administration responsibilities.

With its formal establishment as a tokenized sub-fund under the SPIKO SICAV entity, SAFO operates under the regulatory purview of the French Autorité des Marchés Financiers (AMF). The fund's investment strategy involves total return swap contracts, fully backed by prominent Tier 1 banking institutions such as BNP Paribas. Investors can subscribe to or redeem units in four major currencies - EUR, USD, GBP, and CHF - with a minimum investment requirement of one unit per currency class.

The launch of SAFO on Solana has been announced on social media platforms, with BSCNews highlighting the significance of Amundi's entry into the Solana ecosystem. This development comes at a time when US-based Solana spot ETFs have surpassed $1 billion in assets under management, signifying a shift in institutional adoption from the US to a transatlantic narrative. As of March 2026, approximately 30 institutions held around $540 million in Solana ETF exposure, a figure that is now augmented by Amundi's move from the European side.

The timing of this launch is notable, as it creates a divergence in institutional sentiment. While Goldman Sachs has reduced its exposure to SOL, Amundi's entry into the market signals a contrasting view, potentially laying the groundwork for structural demand in the long term. Furthermore, institutional endowments have been adding Solana ETF positions to their portfolios, as regulated investment wrappers lower the barriers for conservative allocators.

SAFO's introduction expands the existing UCITS product landscape, leveraging the framework to facilitate distribution across all EU member states under a unified regulatory structure. This removes the historical friction associated with cross-border compliance, making it easier for European institutional allocators to access on-chain products. As of the March 2026 expansion, the fund had approximately $100 million in committed assets under management across its seven existing blockchain deployments.

The choice of Solana as the platform for SAFO is attributed to its high transaction throughput and growing institutional infrastructure. The development coincides with reports of Morgan Stanley refiling its staked Solana ETF application, indicating simultaneous pressure from both US and European institutional channels. With Amundi's entry into the Solana ecosystem, the demand for institutional-grade investment products is likely to increase, paving the way for further growth and adoption in the crypto space.