Amundi adopts Chainlink to promote tokenized funds, LINK still struggles to break $10

Europe’s largest asset management company, Amundi, has partnered with the tokenization platform Spiko to launch a $100 million Spiko Amundi Overnight Swap Fund (SAFO), utilizing Chainlink as the oracle infrastructure to record asset net values in real-time on the Ethereum and Stellar blockchains. Despite the strengthened institutional endorsement, LINK has remained unable to break the $10 psychological resistance level since February.

SAFO Fund: Amundi’s Practice in Tokenized Fund Implementation

SAFO represents a significant real-world application of Amundi’s efforts in the tokenization space and is one of the most prominent examples of direct integration between institutional asset managers and blockchain infrastructure to date.

Chainlink’s role in SAFO extends beyond mere technical connectivity, encompassing the following core functions:

On-Chain NAV Reporting: Fetches NAV data from Amundi and writes it to the blockchain almost instantaneously, enhancing pricing transparency and verifiability.

Independent Verification Mechanism: Anyone with access to the relevant smart contracts can independently verify asset valuations, eliminating reliance on traditional fund reports.

Cross-Chain Interoperability: Supports cross-chain deployment on Ethereum and Stellar, expanding the fund’s on-chain reach.

Scalable Distribution Infrastructure: Lays the standardized foundation for the systematic promotion of future tokenized fund products.

Johann Eid, Chief Business Officer of Chainlink, stated: “Europe’s largest asset manager, Amundi, is using Chainlink to distribute its tokenized funds. Currently, all tokenized assets are adopting Chainlink standards one by one, with network effects and distribution capabilities growing daily.”

On-Chain Positive Signals: Declining Exchange Reserves and ETF Funds Hit Nearly Two-Month Highs

Following the launch of the SAFO fund, on-chain data shows a clear improvement in LINK accumulation behavior. According to CryptoQuant data, LINK holdings on exchanges decreased from 130 million to 127.6 million, indicating that investors are continuously withdrawing LINK from exchanges, which helps alleviate short-term selling pressure.

Simultaneously, U.S. spot LINK ETFs experienced positive capital inflows. According to SoSoValue data, on March 19, the LINK ETF saw a net inflow of $3.34 million, the highest since January 20, reflecting a renewed institutional interest in LINK through traditional channels.

However, these positive signals have yet to translate into a price breakthrough.

Why Institutional Adoption Has Not Driven LINK Price Above $10

Since 2025, LINK has been in a downward trend, continuously forming lower highs and lower lows, with a decline of about 70% from its all-time high. The $10 level is a recent psychological resistance point, repeatedly tested since February without effective breakthrough.

The fundamental issue lies in the dual constraints of market structure and macroeconomic environment: declining exchange reserves and ETF capital inflows are demand-side improvements, but in the context of the overall altcoin market still being constrained by cautious macro sentiment, positive fundamentals and ecosystem progress alone are insufficient to drive a breakout. The trend of institutional adoption of Chainlink enhances its long-term ecosystem narrative but is not a short-term price catalyst.

Frequently Asked Questions

Why did Amundi choose Chainlink as the oracle infrastructure for the SAFO fund?
Chainlink enables Amundi to write NAV data to the blockchain almost instantly and allows anyone to independently verify pricing. It also provides cross-chain interoperability between Ethereum and Stellar. For tokenized funds requiring high transparency and auditability, Chainlink’s decentralized oracle network offers the most mature solution currently available.

Is the decline in LINK exchange reserves a bullish signal?
A decrease in exchange reserves typically indicates that holders are transferring LINK from exchanges to self-custody wallets, reducing the circulating supply available for immediate sale, which is generally seen as a bullish sign. However, this signal should be evaluated in conjunction with trading volume, buying momentum, and macro conditions; it cannot be used alone to determine price direction.

What does Amundi’s adoption of Chainlink mean for the long-term value of LINK?
Amundi’s scale and market position imply that its choice will set a benchmark for other institutional assessments of Chainlink as a foundational infrastructure for tokenization. Chainlink CCO Johann Eid pointed out that tokenized assets are “adopting Chainlink standards one by one,” and if this trend continues, the network effects in the RWA (Real-World Asset) sector will accumulate, providing long-term fundamental support.