Goldman Sachs brings $100 billion Treasury fund into crypto’s institutional plumbing
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Goldman Sachs is making its roughly $100 billion Treasury fund, FTIXX, accessible to institutional digital-asset firms via Lynq, a settlement network used by crypto companies. Unlike other Wall Street blockchain-based funds such as BlackRock’s BUIDL and Franklin Templeton’s BENJI, FTIXX is not tokenized; instead, Lynq serves as a new distribution channel for the existing traditional fund. Trades will be handled by SEC-registered broker-dealer tZERO Securities.
Why it matters
This development offers institutional crypto firms a way to put cash into a major traditional Treasury fund between trades and earn yield, integrating conventional finance with digital asset workflows. It also demonstrates a convergence between traditional market participants and digital asset firms by providing an option to use a large Wall Street fund without building a new blockchain product.
Key context
Lynq’s platform operates on a private, permissioned Avalanche (AVAX) Layer 1 blockchain and has onboarded over 30 institutional digital-asset firms with more than $89 million in assets. Previously, Lynq had only one investment product on the network. Offering FTIXX required technology modifications, restricting access to U.S. clients, and integrating with Mosaic. Firms must also have a relationship with tZERO Securities and pass onboarding checks.
Key numbers and entities
Goldman Sachs’ Treasury fund FTIXX ($100 billion), Lynq settlement network, tZERO Securities (SEC-registered broker-dealer), and clients including B2C2, Wintermute, Galaxy (ticker GLXY$23.20), FalconX, Crypto.com, and Fireblocks. Lynq’s network has over 30 institutional firms and $89 million in assets.
What remains unclear
The source does not detail the specific yield profile of FTIXX on Lynq or how its performance compares to tokenized funds like BUIDL and BENJI. It also does not specify how broad access to FTIXX will be among crypto firms beyond U.S. clients or the long-term plans for further integration between traditional funds and digital asset workflows.