ChinaAMC Launches Tokenized Money Market Fund on Ethereum Amid Regulatory Caution

China Asset Management Company (ChinaAMC), one of China’s largest fund managers with over $400 billion in assets under management, has officially entered the tokenization market by launching a blockchain-based money market fund on Ethereum. The new product, called the ChinaAMC USD Digital Money Market Fund Class I USD (CUMIU), is designed to provide stable returns denominated in Hong Kong dollars by investing in short-term deposits and high-quality money market instruments.

Developed through the Libeara tokenization platform, each CUMIU token carries a net asset value of $100 and charges a minimal management fee of just 0.05%, making it one of the most cost-efficient blockchain-based fixed-income products currently available. According to data provider RWA.xyz, the fund has already deployed around $502 million, ranking it as the 11th-largest tokenized fund worldwide. Despite this strong start, it still lags behind major players such as BlackRock’s BUIDL, Ondo’s OUSG, and Franklin Templeton’s BENJI.

Interestingly, only two entities currently hold CUMIU tokens, reflecting ChinaAMC’s limited rollout strategy. Analysts suggest that this cautious distribution approach allows the firm to test blockchain infrastructure and ensure compliance before scaling to a wider audience. The selective participation aligns with the regulatory environment in China, where authorities are treading carefully on real-world asset (RWA) tokenization. Reports recently surfaced that Chinese securities regulators asked brokerages in Hong Kong to halt RWA initiatives until stricter asset verification and risk control measures are in place.

Even with tighter oversight, the launch underscores the growing momentum of tokenized finance. RWA.xyz reports that over $30 billion worth of tokenized assets are now on-chain, representing a 7% increase in the past month. The number of holders has also grown by 9% to more than 406,000, signaling accelerating investor adoption.

ChinaAMC’s entry highlights how tokenization continues to expand globally, even in the face of regulatory caution, cementing blockchain’s role in the future of financial markets.