Goldman Sachs Brings $100B Fund Closer to Crypto Firms

TLDR

• Goldman Sachs will offer access to its roughly $100 billion FTIXX Treasury fund through Lynq.
• FTIXX will not be tokenized, unlike similar blockchain-based fund products from BlackRock and Franklin Templeton.
• tZERO Securities will handle trades as the SEC-registered broker-dealer for the offering.
• Lynq says institutional crypto clients wanted a Treasury asset for idle cash between trades.
• Access will be limited to eligible U.S. clients that complete tZERO onboarding checks.

Goldman Sachs will give institutional crypto firms access to its roughly $100 billion Treasury fund, FTIXX, through Lynq. The move adds a traditional money market product to a settlement network used by digital asset companies.

The fund will not be tokenized. Lynq will offer it as an outside fund, while tZERO Securities, an SEC-registered broker-dealer, will handle trades. The arrangement keeps fund shares outside a public token model and places access inside a network crypto desks already use.

Different Route From Tokenized Funds

The setup differs from BlackRock’s BUIDL and Franklin Templeton’s BENJI, which use tokenized fund structures. Goldman Sachs keeps FTIXX in its existing form and uses Lynq as the distribution channel. That choice gives firms familiar fund exposure without adding token custody.

The plan arrives as large finance and crypto firms keep testing regulated cash products. Recent stablecoin rule proposals show how U.S. agencies continue to shape the market for dollar-linked products.

Lynq Targets Idle Institutional Cash

For Lynq users, FTIXX gives firms a place to park cash between trades. Firms can seek Treasury fund income while keeping access to funds for future settlement needs. These firms often need quick transfers after market moves or client flows.

Lynq CEO Jerald David said clients asked for a treasury asset with a different yield profile. His comments came as new CFTC crypto guidance placed more attention on tokenized assets and onchain records. The same debate now shapes how banks, brokers, and crypto venues connect regulated assets with faster settlement tools.

Access Comes With Conditions

Lynq had to update its technology, limit access to U.S. clients, and connect with Mosaic before adding FTIXX. Clients must also pass tZERO onboarding and eligibility checks.

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The network runs on a private, permissioned Avalanche Layer 1 blockchain. It has more than 30 institutional digital asset firms onboarded and more than $89 million in assets.

The launch adds FTIXX as Lynq’s second asset and its first outside fund. It comes as payment companies pursue market access, including a RedotPay IPO push linked to a stablecoin card and cross-border services.

Goldman Sachs now reaches crypto firms without building a new blockchain fund. Lynq, meanwhile, adds a known Treasury fund to the same daily workflow those firms use to move capital.