---
title: "Spiko EU T-Bills Money Market Fund (EUTBL) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/eutbl-spiko/"
description: "Build-time stablecoin profile for Spiko EU T-Bills Money Market Fund (EUTBL). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Spiko EU T-Bills Money Market Fund (EUTBL)

**Peg:** Euro

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

EUTBL is Spiko's AMF-regulated UCITS short-term {{term:money-market-fund}}MMF{{/term}} backed by Eurozone {{term:treasury}}T-bills{{/term}} — Europe's first tokenized {{term:rwa}}RWA{{/term}} sovereign fund. EUTBL is Spiko's EUR-denominated short-term money market fund — the first AMF-regulated UCITS MMF tokenised on Ethereum. The fund holds short-dated Eurozone sovereign T-bills with weighted average maturity under two months, and EUTBL behaves as a VNAV (variable-NAV) share that accretes value as T-bill yield compounds. Primary subscriptions and redemptions settle same-day at fund NAV with a €1k minimum; Chainlink CCIP bridges issuance to Arbitrum and Polygon. EUTBL is one of Pharos's few EUR-pegged RWA assets and one of the cleanest fits for European institutional users seeking regulatory-grade tokenised cash.

## Collateral

Short-dated Eurozone sovereign Treasury bills (issued by AAA / strong-Member-State issuers) with weighted average maturity under two months, held by a UCITS-compliant short-term money market fund administered under Spiko's AMF authorization

## Peg Mechanism

EUR-denominated NAV-accreting share token (ISIN FR001400ODL1) of the Spiko SICAV short-term VNAV money market sub-fund authorised by the AMF, backed primarily by French and German Eurozone sovereign T-bills (and other top-rated Member-State issuers such as the Netherlands) with a regulatory weighted-average maturity ceiling under 60 days; subscription and redemption are KYC-gated to allowlisted wallets through Spiko's transfer agent with a daily 11:30 Paris cutoff settling at the day's published NAV (T+0 / next-business-day for late orders) and a €1k minimum; cross-chain issuance on Ethereum, Arbitrum, and Polygon is relayed through Chainlink CCIP. Prospectus: https://cdn.spiko.finance/legal_docs/EN/Prospectus_Spiko_SICAV_EN.pdf

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| France | AMF | UCITS Short-Term VNAV Money Market Fund |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| arbitrum | `0xcbeb19549054cc0a6257a77736fc78c367216ce7` | 5 |
| ethereum | `0xa0769f7a8fc65e47de93797b4e21c073c117fc80` | 5 |
| polygon | `0xa0769f7a8fc65e47de93797b4e21c073c117fc80` | 5 |
| base | `0xa0769f7a8fc65e47de93797b4e21c073c117fc80` | 5 |
| etherlink | `0xa0769f7a8fc65e47de93797b4e21c073c117fc80` | 5 |
| stellar | `EUTBL-CBGV2QFQBBGEQRUKUMCPO3SZOHDDYO6SCP5CH6TW7EALKVHCXTMWDDOF` | 5 |
| starknet | `0x04f5e0de717daa6aa8de63b1bf2e8d7823ec5b21a88461b1519d9dbc956fb7f2` | 5 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/eutbl-spiko.