Goldman Sachs is making one of its largest Treasury funds available to institutional crypto firms. The roughly $100 billion fund, FTIXX, will be distributed through settlement network Lynq, with trades handled by SEC-registered broker-dealer tZERO Securities.
It is the first outside fund to be offered on Lynq. Until now, the network had only one investment product, and the addition of FTIXX expands Lynq’s role as a distribution channel for traditional financial products used by digital-asset market participants.
Unlike BlackRock’s BUIDL and Franklin Templeton’s BENJI, Goldman Sachs is not creating a tokenized version of FTIXX. The product remains a conventional Treasury fund, while Lynq provides crypto firms with another access point inside the workflow they already use.
For Lynq clients, FTIXX offers a place to park cash between trades and earn yield until the funds are needed again. Lynq CEO Jerald David said clients had been asking for a treasury asset on the platform with a different yield profile from the instrument already available there.
Bringing FTIXX onto the network required technology changes, restricting access to U.S. clients and integrating with Mosaic, David said. Customers also need a relationship with tZERO Securities and must complete onboarding and eligibility checks. According to the company, Lynq runs on a private, permissioned Avalanche (AVAX) Layer 1 blockchain, has onboarded more than 30 institutional digital-asset firms and holds more than $89 million in assets.
