Goldman Sachs Opens $100 Billion Treasury Fund FTIXX to Crypto Firms via Lynq

Goldman Sachs is reportedly opening its roughly $100 billion FTIXX Treasury fund to institutional digital-asset firms through Lynq, a settlement network for crypto companies, without creating a tokenized version of the fund.

Trades are handled by tZERO Securities, a broker-dealer registered with the SEC, and access is limited to U.S. clients. FTIXX is the first outside fund offered on Lynq, which previously carried only one investment product.

Lynq chief executive Jerald David said in an interview: “We’re really excited that FTIXX, Goldman Sachs’s flagship treasury fund, is the second asset now available for institutional clients.”

Offering the fund required changes on the network side. David said Lynq modified its technology, restricted access to U.S. clients and integrated with Mosaic. Customers also need a relationship with tZERO Securities and must pass onboarding and eligibility checks.

The route Goldman chose stands apart from its peers. BlackRock built BUIDL as a tokenized fund, and Franklin Templeton offers tokenized shares of its money market fund through BENJI. FTIXX reaches crypto firms through traditional settlement plumbing instead, a test of whether conventional rails can serve the same institutional demand.

Lynq runs on a private, permissioned Avalanche Layer 1 blockchain. According to the company, more than 30 institutional digital-asset firms are onboarded, with more than $89 million in assets on the network, a fraction of the fund now available to them. David said clients were looking for a treasury asset with a different yield profile than the instrument already on the platform.

Goldman Sachs has not publicly commented.