Key Notes
- Aviva launched an XRP Ledger share class of its Sterling Liquidity Fund, whose total assets are about £22 billion.
- Aviva invested £50 million in the new class, while combined investment across its two tokenized classes exceeds £86 million.
- The underlying fund structure and BNY Mellon asset custody remain in place, with access limited to eligible investors.
Aviva Investors has launched a tokenized share class of its largest fund, the approximately £22 billion Sterling Liquidity Fund, on the XRP Ledger. Eligible investors can hold an interest in the existing money-market fund through digital tokens.
The October 26 announcement from Aviva Investors and Ripple says Aviva invested £50 million, or about $66 million, in the new sterling class. More than £86 million, or $116 million, is invested across Aviva’s sterling and dollar tokenized classes combined.
The £22 Billion Fund and Its New Digital Class
The £22 billion figure describes the overall fund’s assets under management. It is not the value of shares moved onto the blockchain. The £50 million commitment identifies Aviva’s investment in the new class, while the larger tokenized balance covers two products.
The sterling fund is an Ireland-domiciled UCITS money-market fund launched in 2002. It seeks low-risk returns and daily liquidity through high-grade, short-term debt denominated in pounds.
How the Tokenized Shares Work
The launch uses a digital-twin structure: holdings can be represented on XRPL while the established off-chain fund structure remains in place. The companies say the new class retains the conventional fund’s investment objective, risk profile, liquidity characteristics and regulatory protections.
Komainu supports institutional digital-asset custody, and Licuido supplies tokenization infrastructure. The Bank of New York Mellon holds the underlying fund assets. Access to the new class is for eligible investors with digital wallets.
A Second Fund Launch After July
Aviva’s July 29 release announced its first tokenized share class, for the US Dollar Liquidity Fund, using the same ledger and service-provider arrangement. That launch followed the firm’s partnership with Ripple earlier in 2026.
The dollar product kept its existing investment approach while adding a digital ownership format. The sterling launch extends that model to a second currency and a substantially larger underlying fund; it does not replace the portfolio with XRP.
Aviva’s fund disclosures also distinguish a money-market investment from a bank deposit or guaranteed product. Interest rates, inflation and an issuer’s creditworthiness can affect the value of short-term debt, and investors can lose capital. A blockchain record does not remove those investment risks.
The share-class model is also appearing elsewhere. CoinScreamer’s Hong Kong report covers ChinaAMC’s two tokenized money-market funds and their separate launch of 24/7 secondary trading on PantherTrade. Aviva’s announcement concerns digital fund access; it does not announce the same secondary-market service.
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