Spiko EU T-Bills Money Market Fund (EUTBL)

EUTBL is not a crypto token in any ordinary sense: it is a share class of a French AMF-authorised UCITS short-term money market fund, holding Eurozone Treasury Bills, whose shareholder register happens to live on seven blockchains. Its roughly $759M "market cap" is fund assets — units outstanding times NAV per unit — not a traded float, and the unit price rises because yield accrues into NAV, not because anyone is bidding it up. Holding it requires passing Spiko's KYC; the token is transfer-restricted to allowlisted addresses at the contract level.