Spiko Amundi Overnight Swap Fund (GBP) 

GBPSAFO Price

What is Spiko Amundi Overnight Swap Fund (GBP), a tokenized money-market fund?

Spiko Amundi Overnight Swap Fund (GBP) (GBPSAFO) is the GBP share class of SAFO — a tokenized money-market fund that puts sterling cash management on-chain. Spiko, a Paris-based tokenization platform, and Amundi, Europe's largest asset manager, launched the fund in March 2026 as a sub-fund of SPIKO SICAV, a French UCITS fund authorized by the regulator AMF. Each GBPSAFO token represents one pound of fund NAV, stays transferable on-chain 24/7, and redeems from as little as £1. Sister share classes cover EUR, USD and CHF.

How does the Spiko Amundi Overnight Swap Fund work?

The fund does not hold bonds directly. SAFO enters fully collateralized total return swaps with global systemically important banks — BNP Paribas is the first counterparty — and posts an equity basket as collateral. The swap structure targets a yield above the GBP overnight SONIA benchmark. Amundi acts as delegated investment manager. CACEIS, a Crédit Agricole subsidiary, serves as depositary and administrator, PwC audits the fund, and a Chainlink oracle delivers the NAV on-chain.

What SONIA yield does GBPSAFO target and what does the fund charge?

Spiko's GBP fund page quotes the swap counterparty rate at SONIA + 0.44%. SONIA is the sterling overnight index rate, the standard GBP cash benchmark. The fee load is low: a 0.25% annual management fee prorated daily, 0% performance fee, and no subscription or redemption fees.

How is GBPSAFO priced?

One GBPSAFO token tracks one pound of the fund's net asset value. The four token contracts each use 5 decimals. A Chainlink oracle carries the NAV on-chain, and Amundi marks the fund's NAV daily under UCITS rules — so the token price follows official fund valuation rather than order-book trading.

What is GBPSAFO's total token supply?

GBPSAFO has no fixed maximum supply and no emission schedule. Token supply is an elastic mint-and-redeem inventory: Spiko mints tokens against subscriptions and cancels them on redemptions, so the count moves with fund flows rather than a calendar. See the DropsTab token page for the live figure.

Which blockchains is GBPSAFO on?

Per DropsTab data, GBPSAFO exists as four token contracts — on Ethereum, Polygon, Arbitrum One, and Base — each with 5 decimals. Press coverage at the March 2026 launch also noted a Stellar-based shareholder register and a planned Solana expansion. Contract addresses are listed on the DropsTab token page.

Can you buy GBPSAFO on exchanges?

No — GBPSAFO records no spot, derivatives, or DEX trading pairs. GBPSAFO is a transfer-restricted fund share: the shareholder register is tokenized but permissioned, transfers stay within whitelisted addresses, and eligibility is limited to non-US investors. The only exit is redemption through Spiko — no open secondary market exists.

How do you subscribe to or redeem GBPSAFO?

Eligible investors subscribe from £1 through Spiko. Deposits flow from the investor's bank to the depositary, CACEIS. Redemptions settle T+1 on a daily basis. Spiko caps instant daily withdrawals at €500,000. A documented fallback covers failure of Spiko itself: withdrawal orders can still be placed through Amundi.

Does GBPSAFO have vesting, unlock dates, or an airdrop?

No. GBPSAFO carries no vesting schedule, no team or investor allocations, and no cliffs. The token also has no airdrop, points program, or token sale — distribution runs exclusively through subscription into the UCITS fund. Supply risk is flow-based, driven by institutional subscriptions and redemptions, not calendar-based unlock pressure.

Who created SAFO and who backs Spiko?

Spiko and Amundi co-created SAFO, announced in March 2026. Amundi managed more than €2.3 trillion in assets as of 31 March 2025. Spiko, founded in Paris in 2023 by Antoine Michon and Paul-Adrien Hyppolite, holds French ACPR investment-firm license no. 19183. Spiko raised a $22M Series A on 17 July 2025, led by Index Ventures with White Star Capital, Frst and Bpifrance's Digital Venture Fund participating.