Tokenised UCITS money market funds
Spiko, asset manager, on Arbitrum since May 2024.
French-domiciled short-term VNAV money market funds authorised under the UCITS Directive and supervised in France, with fully tokenised share registers. Arbitrum is the largest single Ethereum-family network by value (~$284M of EUTBL); also Ethereum, Polygon, Base (Ethereum-family) and Stellar. One of the few EU-regulated, non-US products in this dataset. CAVEAT: aggregator-sourced.
In the record
27
months from first observation to the record's assessment of August 2026
17
asset manager rows in the record, this one included
2
rows filed to Arbitrum by their sources
What it bears on
R1Can we hold and administer this the way we hold everything else?
available
Qualified custody, fund administration and in-kind creation are available from named providers under existing mandates.
R3Do we know what this instrument is, legally, in every venue we operate?
needs design
ETH is a digital commodity in the United States and stablecoin law is in force. Market-structure legislation stalled, and jurisdictions are diverging.
R5Which network do we settle on, and how do we get out?
needs design
More than a hundred networks and no neutral selection framework. Our own record shows institutional issuance concentrated on mainnet, with layer twos carrying stablecoin float rather than funds.