This page contains resources regarding tokenised funds, sometimes known as "digital", or "on-chain funds"; what they are, why they can add value and how they work.
TOKENISED FUNDS SERIES WITH CMS
The IA has published a series of papers over time since 2020 in collaboration with CMS. These papers explore the basics of tokenised funds, the regulatory and disputes considerations, and prospectus disclosures that may be necessary.
We hope these are helpful in explaining the technical aspects that the industry needs to consider to make them an effective proposition for use by members.
UK Fund Tokenisation: A Blueprint for Implementation
The IA's 'Investment Fund 3.0' era has now arrived - fund tokenisation is permitted within the UK. This report from the Technology Working Group of the Asset Management Taskforce outlines an implementation plan for the tokenisation of the UK investment funds industry whose full value chain is operated on DLT.
Recent developments
UK
- November 2023: FCA Tokenised Funds webpage
- November 2023: HM Treasury Welcomes the Report to the Asset Management Taskforce
- November 2023: FCA letter to the Technology Working Group
- November 2023: Interim report from Technology Working Group to the Asset Management Taskforce - UK Fund Tokenisation: A Blueprint for Implementation
- October 2023: FCA joins global regulatory digital innovation workstream with MAS and others
- October 2023: FCA confirms priority work on UK fund tokenisation
- May 2023: Eversheds sets out potential ways forward for tokenised fund registers
- April 2023: City minister re-establishes forum to identify and harness the potential of innovative new technologies for the UK asset management industry
- February 2023: FCA includes fund tokenisation in its discussion paper on the UK fund regime
- March 2022: Apex Group acquires majority stake in FAC
- November 2021: SS&C: Tokenization of Funds Mapping a way forward
- September 2021: LSEG / FundAdminChain Tokenised Funds Round Table
Asia
- November 2023: HK SFC sets requirements for tokenised investment products
- October 2023: HK SFC to push ahead with retail fund tokenisation amid battle for tech ascendency
- October 2023: UBS Asset Management launches first blockchain-native tokenized VCC fund pilot in Singapore
- September 2023: Hong Kong regulator looks at secondary market trading of tokenised funds
- June 2023: Schroders explores capabilities of tokenised investment vehicle with Monetary Authority of Singapore
- June 2023: Hong Kong markets watchdog SFC ‘happy to discuss’ tokenisation with fund industry
- August 2022: SFIG launches Fundnode utility
US
- July 2023: WisdomTree Prime launches in select US States
- April 2023: Franklin Templeton Money Market Fund Launches on Polygon Blockchain
- January 2023: Hamilton Lane tokenises their Equity Opportunities fund
- December 2022: WisdomTree Announces Nine New Blockchain-Enabled Funds are Effective with the SEC
- April 2022: Digital Funds Seeks to Launch Tokenized S&P 500 Fund
- February 2022: Arca Labs: Blockchain Transferred Funds (BTFs): The New Frontier for Investment Funds
- December 2021: Financial Times: Blockchain-powered breakthrough on mutual fund
Europe
Ireland
Luxembourg
- August 2023: Deutsche Boerse acquires FundsDLT
- June 2023: Digital asset exchange tokenises stake in £16bn abrdn money market fund
- April 2023: Azimut successfully tokenizes units of a Luxembourg Investment Fund in collaboration with BNP Paribas and Allfunds Blockchain
- June 2022: CSSF: Circular confirming that shareholder registers can be held on DLT
- April 2022: FundsDLT: Digital fund distribution is here today
- February 2022: FundsDLT: DLT and the new model transfer agent
- January 2022: The Use of DLT in the Asset Management Sector – Assets, Infrastructure and Regulation in Transition
- October 2021: FundsDLT and UBS AM explore blockchain-based fund distribution
- 2021: Tokeny: The benefits of tokenized funds
France
- September 2023: La Française partners with Allfunds blockchain venture
- June 2023: IZNES and Generali: Successful use of blockchain for unit-linked asset management
- June 2023: Rothschild AM acquires a stake in Iznes and launches tokenised funds
- November 2022: Axa IM lists first fund on blockchain platform
- November 2022: Iznes blockchain marketplace adopts a new technology
- June 2022: La Francaise makes real estate funds available on Iznes
- June 2022: Natixis trials money fund sales via blockchain
- April 2022: Generali fund arm carries out first blockchain transaction
- March 2022: BNP Paribas & Iznes
- January 2018: SETL launches IZNES blockchain platform
Germany
- September 2023: Metzler issues tokenised shares for sustainable growth fund
- June 2022: 'KryptoFAV' law enters into effect, enabling German funds to issue tokens
- April 2022: Gridl Asset Management GmbH enables investors to invest in the first digital twin of a mutual fund in Germany
- April 2022: BNP Paribas conducts PoC for mutual fund transaction on fundsonchain’s settlement platform
- February 2022: UI Enlyte 'Imagine a world...'
Italy
- July 2023: Mediobanca launches tokenisation initiative
- May 2022: Azimut goes live with its D2C solution, Beewise
Spain
South Africa
Australia
- December 2022: Vanguard launches blockchain platform in Australia
Last updated
20/02/2024
