Generali Investments has launched a digitally native share class in the €13 billion ($15bn) Generali Money Market Fund, a Luxembourg fund managed by Generali Asset Management. The Italian investment group, which regularly ranks among the top ten EU-based asset managers, is starting cautiously, restricting the tokenized share class to other group companies. It plans to gradually widen availability and regards this as a first step towards a broader range of tokenized investment opportunities.
Woody Bradford, CEO and General Manager at Generali Investments, said the move “combines our proven investment expertise with even more efficient, digitally supported customer service. This allows us to meet changing customer expectations and remain an innovation leader in our industry.”
Emiliano Di Giammatteo, Chief Operating Officer, added that money market funds are a promising starting point because they can support more efficient collateral management on traditional capital markets and for stablecoin issuers, becoming “an important building block in a more connected and programmable financial ecosystem.”
While Generali regards itself as among the first wave of European asset managers to embrace tokenization, a few companies are ahead of it. French startup Spiko launched tokenized UCITS funds in 2024 and has $2.7 billion in assets under management. Franklin Templeton launched a fully digital Luxembourg UCITS fund in early 2025 and Amundi, the largest European-based asset manager, launched a tokenized share class in one of its money market funds in late 2025. This year has seen an acceleration in activity.
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