Goldman Sachs Opens Treasury Fund to Crypto Through Lynq
Through Lynq, institutional crypto firms get access to Goldman Sachs’ FTIXX, a Treasury fund worth about $100 billion. The route runs through tZERO and a permissioned Avalanche network, without tokenization.
Key Takeaways
- Goldman Sachs is making its Treasury fund FTIXX available to institutional crypto firms through Lynq.
- FTIXX remains untokenized; access runs through Lynq and tZERO Securities as the broker-dealer.
- Institutional clients can temporarily park cash in FTIXX to earn yield between trades.
Goldman Sachs is making its large Treasury fund FTIXX available to institutional crypto firms through Lynq, without turning it into a tokenized version. The fund is worth about $100 billion (€87.9 billion) and is now getting a new distribution route for firms active in the crypto market.
New Route for Cash
FTIXX is being offered through Lynq, a settlement network for digital asset companies. Trading runs through tZERO Securities, an SEC-registered broker-dealer. According to Lynq, this is the first external fund on the network, which previously had only one investment product.
The move fits into a broader shift on Wall Street, but Goldman is clearly choosing a different approach from firms that put their funds directly on the blockchain. BlackRock built BUIDL as a tokenized fund, while Franklin Templeton offers tokenized shares of its money market fund through BENJI. Goldman is keeping FTIXX in its existing form and letting Lynq handle access for crypto firms. Tokenized money market funds also show how strong the demand is for cash management on blockchain rails, even though Goldman is choosing a non-tokenized route here.
Why This Matters for Crypto
For institutional users, this can be especially practical. Instead of letting cash sit idle between trades, they can temporarily park the money in FTIXX and earn yield on it. That makes it easier for trading firms and market makers to use liquidity more efficiently.
Lynq says clients were already asking for this. The network works with B2C2, Wintermute, Galaxy, FalconX, Crypto.com, and Fireblocks, among others, firms that often move large amounts between trades. To add FTIXX, Lynq had to adjust its technology, limit access to U.S. clients, and connect with Mosaic. Clients also need a relationship with tZERO Securities and have to go through the usual onboarding and eligibility checks.
Lynq Builds Further on Avalanche
Lynq runs on a private, permissioned Avalanche Layer 1 blockchain. According to the company, more than 30 institutional digital asset firms are now connected, and the network holds more than $89 million (€78.2 million) in assets. That positions Lynq as an infrastructure layer where traditional financial products and crypto workflows are getting closer together.
