Spiko EU T-Bills Money Market Fund (EUTBL) stablecoin analytics
Answer First
What is Spiko EU T-Bills Money Market Fund (EUTBL)?
EUTBL is Spiko's AMF-authorized UCITS short-term VNAV money-market fund backed by Eurozone sovereign T-bills, tokenized for KYC-gated investors. The static profile records its Euro-denominated NAV accounting mechanism as: EUR-denominated NAV-accreting share token (ISIN FR001400ODL1) of the Spiko SICAV short-term VNAV money-market sub-fund authorised by the AMF.
Is EUTBL safe?
EUTBL holds a B- Safety Score grade (65/100) in Pharos's latest published rating — a safe-tier grade, so Pharos assesses it as overall safe, though no stablecoin is entirely risk-free. Static metadata says Spiko EU T-Bills Money Market Fund uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Independent Audit from PricewaterhouseCoopers Audit, statutory auditor of Spiko SICAV. The 1 September 2026 prospectus names PwC and requires certification of financial statements plus pre-publication asset-composition checks. Latest annual reports and asset compositions are available to shareholders within eight working days of written request; no dated audit report was obtained in this review.; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Spiko EU T-Bills Money Market Fund (EUTBL) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg Euro-denominated NAV.
AI summary / Updated Sep 7, 2026
EUTBL is Spiko's AMF-regulated UCITS short-term MMF backed by Eurozone T-bills, 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.
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
Sources: Spiko SICAV prospectus
- Collateral
- Eurozone-government bonds and money-market instruments held by the AMF-regulated Spiko SICAV short-term VNAV money-market sub-fund, managed by Twenty First Capital; the mandate limits weighted average maturity to 60 days or less and residual instrument maturity to six months
- 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. The mandate permits euro-denominated Eurozone-government bonds and money-market instruments, with weighted average maturity of 60 days or less. Subscriptions, redemptions, and transfers are permissioned through Spiko Finance's shareholder register. The 1 September 2026 prospectus specifies an 11:30 Paris-time order cutoff, execution at the last known NAV subject to exceptional-event recalculation, next-business-day processing for late orders, and €1 minimum subscriptions and redemptions. Spiko has announced Chainlink CCIP interoperability for EUTBL and USTBL. Prospectus: https://cdn.spiko.finance/legal_docs/EN/Prospectus_Spiko_SICAV_EN.pdf
- Jurisdiction
- France / AMF / UCITS Short-Term VNAV Money Market Fund
- Proof Of Reserves
- Independent Audit by PricewaterhouseCoopers Audit, statutory auditor of Spiko SICAV. The 1 September 2026 prospectus names PwC and requires certification of financial statements plus pre-publication asset-composition checks. Latest annual reports and asset compositions are available to shareholders within eight working days of written request; no dated audit report was obtained in this review. Reserve source
Next Actions
Exact bot target: /subscribe dews,depeg,safety eutbl-spiko
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
EUTBL quick answers
What is Spiko EU T-Bills Money Market Fund (EUTBL)?
EUTBL is Spiko's AMF-authorized UCITS short-term VNAV money-market fund backed by Eurozone sovereign T-bills, tokenized for KYC-gated investors. The static profile records its Euro-denominated NAV accounting mechanism as: EUR-denominated NAV-accreting share token (ISIN FR001400ODL1) of the Spiko SICAV short-term VNAV money-market sub-fund authorised by the AMF.
Is EUTBL safe?
EUTBL holds a B- Safety Score grade (65/100) in Pharos's latest published rating — a safe-tier grade, so Pharos assesses it as overall safe, though no stablecoin is entirely risk-free. Static metadata says Spiko EU T-Bills Money Market Fund uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Independent Audit from PricewaterhouseCoopers Audit, statutory auditor of Spiko SICAV. The 1 September 2026 prospectus names PwC and requires certification of financial statements plus pre-publication asset-composition checks. Latest annual reports and asset compositions are available to shareholders within eight working days of written request; no dated audit report was obtained in this review.; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs EUTBL?
Pharos classifies EUTBL backing as Real-World Asset Backed. Collateral, per the static profile: Eurozone-government bonds and money-market instruments held by the AMF-regulated Spiko SICAV short-term VNAV money-market sub-fund, managed by Twenty First Capital; the mandate limits weighted average maturity to 60 days or less and residual instrument maturity to six months Reserve evidence: Independent Audit from PricewaterhouseCoopers Audit, statutory auditor of Spiko SICAV. The 1 September 2026 prospectus names PwC and requires certification of financial statements plus pre-publication asset-composition checks. Latest annual reports and asset compositions are available to shareholders within eight working days of written request; no dated audit report was obtained in this review..
Can EUTBL be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for EUTBL, when applicable, appear in the dossier below.
