CoinDesk
Goldman Sachs is making its roughly $100 billion Treasury fund, FTIXX, available to institutional crypto firms through Lynq, a settlement network for digital-asset companies. The fund remains a traditional, non-tokenized product; trades are handled by SEC-registered broker-dealer tZERO Securities.
Why it matters
FTIXX is the first outside fund offered on Lynq. The arrangement gives firms a way to put cash to work between trades and access it again when needed, addressing client demand for another treasury option with a different yield profile.
The model differs from BlackRock’s tokenized BUIDL fund and Franklin Templeton’s BENJI. Goldman is using Lynq as a new distribution channel for an existing fund rather than creating blockchain-based shares. For traditional asset managers, that offers a route into digital-asset workflows without tokenizing the underlying product.
Market impact
Lynq clients must be U.S.-based, meet eligibility and onboarding requirements, and have a relationship with tZERO Securities. Lynq also modified its technology and integrated with Mosaic to support the offering.
Lynq runs on a private, permissioned Avalanche Layer 1 blockchain. The company says more than 30 institutional digital-asset firms are onboarded, with over $89 million in assets on the network. FTIXX is the second asset available to institutional clients, as Lynq expands beyond its previous single investment product.
Frequently asked questions
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Is Goldman Sachs turning FTIXX into a tokenized fund?
No. FTIXX remains a traditional fund, and Lynq serves as a new distribution channel for institutional crypto firms.
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How can Lynq clients use FTIXX?
They can put cash into the fund between trades to earn yield, then access the money when they need to deploy it.
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How does FTIXX differ from BUIDL and BENJI?
BlackRock’s BUIDL and Franklin Templeton’s BENJI are tokenized fund products. FTIXX is not being tokenized.
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Who handles FTIXX trades through Lynq?
Trades are handled by tZERO Securities, an SEC-registered broker-dealer. Clients also need a relationship with tZERO Securities and must meet onboarding and eligibility requirements.
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What blockchain does Lynq use, and how large is its network?
Lynq runs on a private, permissioned Avalanche Layer 1 blockchain. The company says it has more than 30 institutional digital-asset firms onboarded and over $89 million in assets.
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