Goldman Sachs brings $100 billion Treasury fund into crypto’s institutional plumbing

Goldman Sachs is extending access to its flagship Treasury fund, FTIXX, to institutional crypto firms by listing the established money-market vehicle on Lynq, a private settlement network used by digital-asset firms. Rather than creating a tokenized version of the fund, the bank is using Lynq as an additional distribution channel, with trades routed through SEC-registered broker-dealer tZERO Securities. Lynq’s approach contrasts with other Wall Street moves into crypto-linked cash products — for example, BlackRock’s tokenized BUIDL and Franklin Templeton’s tokenized BENJI shares. By keeping FTIXX in its traditional, non-tokenized form, Goldman avoids launching a new blockchain-native product while still making the fund available to firms that use Lynq for settlement and cash management. Lynq said the capability responds to client demand for a treasury-like asset where firms can park cash between trades and earn yield until deployment. The network, which runs on a permissioned Avalanche Layer 1, already supports more than 30 institutional digital-asset firms and manages over $89 million in assets, and works with counterparties including B2C2, Wintermute, Galaxy, FalconX, Crypto.com and Fireblocks. Bringing FTIXX onto Lynq required technical and compliance adjustments: Lynq modified its platform, limited access to U.S. clients, integrated with Mosaic, and added onboarding and eligibility checks tied to tZERO relationships. Lynq’s CEO, Jerald David, framed the listing as part of an ongoing convergence between traditional market participants and the digital-asset ecosystem, and said FTIXX is now the network’s second available asset for institutional customers.