Key Takeaways
- • Spiko reported that its tokenized fund surpassed $2.39 billion in assets under management as of late October 2026, placing it ahead of Circle's USYC and BlackRock's BUIDL, according to the company.
- • Spiko raised $90 million in October 2026 at a valuation of roughly $800 million.
- • Assets grew about 30% a month over the three months before the November report, led by the Spiko Amundi Overnight Swap Fund (SAFO), while the investor base expanded about 18% monthly to more than 10,000 legal entities and individuals.
- • Spiko operates its blockchain-based money market funds under the EU's UCITS framework and has registered SAFO with the UK's Financial Conduct Authority as it expands into London.
- • Spiko is examining the U.S. market with potential entry targeted for 2027, rather than an entry already underway.
Summary
French fintech platform Spiko hosted the world's largest tokenized fund as of late October 2026, with about $2.39 billion in assets under management, the company said in a website post. Spiko said its fund ranked above Circle's USYC, formally the Hashnote International Short Duration Yield Fund Ltd., and BlackRock's BUIDL, both of which held more than $2 billion in assets under management at the end of October.
CEO Paul-Adrien Hyppolite attributed the company's limited public profile partly to its French origins and to its early lack of a track record or established brand. Hyppolite previously served as deputy head of the financial markets division at the French Treasury Department and co-founded Spiko in June 2023.
Spiko raised $90 million in October 2026 at a valuation of around $800 million. Over the three months preceding the November report, its assets grew about 30% a month, driven particularly by the Spiko Amundi Overnight Swap Fund, or SAFO. The investor base expanded about 18% monthly over the same period, reaching more than 10,000 legal entities and individuals.
Spiko provides money market funds built on blockchain technology under the European Union's UCITS framework, which governs how retail-distributable mutual funds and ETFs are created, managed and marketed across borders. The flagship SAFO tokenized cash fund debuted seven months before the November 2026 report, in conjunction with BNP Paribas and Amundi.
Spiko is expanding beyond France into London, where it has registered SAFO with the UK's Financial Conduct Authority, and Hyppolite identified London as a main office alongside Paris. The CEO said Spiko is examining the U.S. market, with potential expansion targeted for 2027.
CEO Paul-Adrien Hyppolite attributed the company's limited public profile partly to its French origins and to its early lack of a track record or established brand. Hyppolite previously served as deputy head of the financial markets division at the French Treasury Department and co-founded Spiko in June 2023.
Spiko raised $90 million in October 2026 at a valuation of around $800 million. Over the three months preceding the November report, its assets grew about 30% a month, driven particularly by the Spiko Amundi Overnight Swap Fund, or SAFO. The investor base expanded about 18% monthly over the same period, reaching more than 10,000 legal entities and individuals.
Spiko provides money market funds built on blockchain technology under the European Union's UCITS framework, which governs how retail-distributable mutual funds and ETFs are created, managed and marketed across borders. The flagship SAFO tokenized cash fund debuted seven months before the November 2026 report, in conjunction with BNP Paribas and Amundi.
Spiko is expanding beyond France into London, where it has registered SAFO with the UK's Financial Conduct Authority, and Hyppolite identified London as a main office alongside Paris. The CEO said Spiko is examining the U.S. market, with potential expansion targeted for 2027.
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