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Spiko EU T-Bills Money Market FundEUTBLEpic
85/100STRICT
Epic
#109market cap18 Oct 2026

Spiko EU T-Bills Money Market Fund

EUTBL
RWA, payments and rwa weightsMarket-cap rank 109, CoinGecko 23 Oct 2026
Fundamentals, not price
PillarRatingPosition on the 0 to 100 scaleWeightAdds
Sustainability95×0.2422.80
Transparency95×0.2019.00
Revenue75×0.1612.00
Innovation90×0.1210.80
Community65×0.127.80
Tokenomics78×0.1612.48
Weighted sum, weights total 1.0084.88Rounds to the published score85
Analysed
18 Oct 2026
Engine
v5.2.0
Computed
2026-10-18 05:26 UTC
Inputs hash
8b985bb64c71

Pro opens Spiko EU T-Bills Money Market Fund in full. Change, scenario, signal, risk factors, catalysts.

See plans

Research, not financial advice. Read the terms.

Pillar evidence

Input set 18 Oct 2026. 7 sources, 12 citations.
Each arc is one pillar rating, drawn to scale from 0 to 100.
Sustainability95

Can this project keep operating and funding itself for years?

Fund assets are 100% backed by short-duration Eurozone government Treasury bills and repurchase agreements held within an AMF-regulated French UCITS structure.12

Transparency95

Can outsiders see and check what the team and the protocol do?

Operates under European UCITS regulation with ISIN FR001400ODL1, CACEIS Bank custody, PwC auditing, and daily net asset value reporting on-chain.13

Revenue75

Does the protocol earn real fees or income from use?

Generates consistent euro sovereign yield tracking the compounded euro short-term rate while charging a transparent 0.30% annual management fee.42

Innovation90

Is the technology being built and shipped, and does it matter?

Combines Chainlink CCIP multi-chain share portability across four EVM networks with institutional collateral markets on Morpho and SG-FORGE.56

Community65

Who uses, builds and holds it, and how durable is that base?

Adopted by European corporate treasuries, fintech platforms, and decentralized autonomous organizations across more than 3,500 whitelisted on-chain addresses.37

Tokenomics78

Do supply, issuance and unlocks protect holders from dilution?

Accumulating variable net asset value share mechanism matches token supply 1:1 with subscribed fund capital and eliminates unpacked dilution.14

Sources
  1. 1spiko.io/spiko-treasury-bills-euroCited for Sustainability, Transparency, Tokenomics
  2. 2defillama.com/protocol/spikoCited for Sustainability, Revenue
  3. 3etherscan.io/token/0xa0769f7a8fc65e47de93797b4e21c073c117fc80Cited for Transparency, Community
  4. 4coingecko.com/en/coins/eutblCited for Revenue, Tokenomics
  5. 5arbiscan.io/token/0xcbeb19549054cc0a6257a77736fc78c367216ce7Cited for Innovation
  6. 6basescan.org/token/0xa0769f7a8fc65e47de93797b4e21c073c117fc80Cited for Innovation
  7. 7polygonscan.com/token/0xa0769f7a8fc65e47de93797b4e21c073c117fc80Cited for Community

About Spiko EU T-Bills Money Market Fund

Analysis of 18 Oct 2026

Spiko EU T-Bills Money Market Fund (EUTBL) is a tokenized variable net asset value fund operating under European Union UCITS regulations. Authorized by the French Autorite des Marches Financiers under ISIN FR001400ODL1, the portfolio holds short-term Eurozone sovereign Treasury bills and repurchase agreements.

Full overviewShow less

Shares circulate natively across Ethereum, Arbitrum, Base, and Polygon through compliant smart contracts equipped with automated allowlist verification. Interest from sovereign debt obligations accrues daily into the net asset value per share, tracking the compounded euro short-term rate.

Corporate treasuries and decentralized autonomous organizations use the token to hold regulated euro cash equivalents on public blockchains. Direct subscription and redemption channels with the fund custodian allow institutional holders to settle euro positions without secondary exchange slippage.

Investment thesis

EUTBL operates as institutional cash management infrastructure for organizations holding euro balances across public smart contract networks. Rather than targeting speculative price appreciation, the fund prioritizes capital preservation and sovereign yield backed by Eurozone government obligations.

Full thesisShow less

Regulatory supervision by the French AMF under the European UCITS directive provides legal segregation of assets through CACEIS Bank custody. Beyond passive yield accumulation, the token integrates into decentralized finance lending markets for active collateral management.

Curated vaults on Morpho and partnerships with Societe Generale FORGE enable qualified borrowers to source liquidity against EUTBL holdings. Cross-chain transfers rely on Chainlink CCIP to maintain a unified share registry across Ethereum Layer 1 and Layer 2 networks.

For European corporate treasuries and protocol reserves seeking compliant euro sovereign returns with atomic settlement, EUTBL serves as a foundational building block.

Strengths
  • Regulatory compliance. AMF-licensed French UCITS structure under ISIN FR001400ODL1 guarantees legal asset segregation and institutional investor protections.
  • Sovereign backing. Portfolio holds short-maturity Eurozone government Treasury bills and overnight repurchase agreements that minimize credit and duration risk.
  • DeFi composability. Active collateral integration within Morpho lending vaults and decentralized euro stablecoin reserves expands on-chain utility.
  • Multi-chain architecture. Native deployment across Ethereum, Arbitrum, Base, and Polygon via Chainlink CCIP enables low-cost institutional settlement.
  • Transparent pricing. Daily net asset value calculations track the official euro short-term rate after a 0.30% management fee.
Risks
  • Primary redemption reliance. Absence of secondary exchange order books leaves holders dependent on issuer subscription and redemption channels.
  • Rate sensitivity. Returns track European Central Bank deposit facility rates and will compress during monetary easing cycles.
  • Permissioned transfers. Whitelist compliance restrictions limit peer-to-peer token transfers strictly to KYC-verified wallet addresses.
  • Smart contract surface. Cross-chain token bridging and lending vault integrations introduce technical dependencies across four blockchain networks.
Competitive position

EUTBL leads the euro-denominated tokenized treasury sector through its regulated French UCITS structure and multi-chain distribution across four EVM networks. While dollar-denominated funds like BlackRock BUIDL and Superstate USTB command larger total assets, they expose European entities to foreign exchange volatility.

Full positionShow less

Spiko captures European corporate and DAO treasury demand by combining sovereign euro yield with native Morpho collateral utility.

Conclusion

Spiko EU T-Bills Money Market Fund delivers regulated Eurozone sovereign debt yields directly to public blockchain networks. By pairing an AMF-supervised UCITS fund structure with Chainlink CCIP interoperability and Morpho collateral markets, the product bridges traditional cash management with decentralized finance.

Full conclusionShow less

Although transfer whitelisting and ECB rate policy cap speculative upside, EUTBL remains a premier on-chain euro cash equivalent for institutional treasuries.

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