SAFO Becomes the World’s Largest Tokenized Fund, Seven Months After Launch

Benzinga · Chainwire · 2026-11-05 15:08 UTC

Paris, France, November 5th, 2026, ChainwireSAFO, the tokenized cash fund Spiko launched with Amundi in March 2026, now holds $2.38 billion, more than BlackRock’s BUIDL at $2.17 billion and Circle’s USYC at $2.37

Paris, France, November 5th, 2026, Chainwire

SAFO, the tokenized cash fund Spiko launched with Amundi in March 2026, now holds $2.38 billion, more than BlackRock’s BUIDL at $2.17 billion and Circle’s USYC at $2.37 billion. Over the last three months, its assets have grown about 30% a month and its investor base about 18% a month, to more than 10,000 legal entities and individuals.

Spiko, the tokenized cash fund leader, today announced that the Spiko Amundi Overnight Swap Fund (SAFO), marketed as Smart Cash, has become the world’s largest tokenized fund by assets under management. SAFO held $2.38 billion on October 23, 2026 against $2.37 billion for Circle’s USYC and $2.17 billion for BlackRock’s BUIDL. It passed BUIDL on October 19, seven months to the day after its launch, and USYC on October 27. At the same age, BUIDL held $551 million and USYC $102 million.

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