Spiko Reports $2.38B in SAFO as Tokenized Cash Funds Reach Business Treasuries

What happened

Spiko reported $2.38 billion in its Spiko Amundi Overnight Swap Fund, or SAFO, showing tokenized investment products are increasingly used for business cash management. The figure comes from an October 29 issuer announcement using data as of October 23.

Confirmed

Global impact / market context

Businesses holding spare cash may now treat tokenized funds as an alternative to deposit accounts. But fund shares carry rights and risks set by fund documents, not deposit protection, so investors must check access terms, possible value changes and recordkeeping fit before moving cash.

Analyst inference

Tokenized cash funds are competing for corporate treasury money, and issuers promote rankings against rivals. Such comparisons depend on which assets are counted, valuation dates and definitions used, so the reported total reflects Spiko's own framing rather than a standardized measure across products.

Analyst inference

What to watch

1. Spiko's stated approach uses a securities portfolio and total return swaps, which are contracts exchanging investment returns, to target an overnight rate plus a spread. Confirmed
2. Readers should review the prospectus and currency-specific key information documents, because these define investor rights, risks, access terms and how the fund is valued. Proposed
3. Watch whether more businesses shift spare cash into tokenized funds, since that could move revenue toward issuers and change how companies assess access, value changes and accounting fit. Analyst inference

Evidence

• newsbtc.com