Goldman Sachs Opens $100 Billion Treasury Fund FTIXX to Digital Asset Firms
Goldman Sachs provides digital asset firms access to its $100 billion FTIXX Treasury fund via the Lynq network, bypassing tokenization in favor of traditional fund integration.
Goldman Sachs is granting digital asset firms access to its central Treasury fund, FTIXX, which manages approximately $100 billion. Unlike the growing trend on Wall Street, the bank is not tokenizing the fund or issuing a blockchain-based version. Instead, it is connecting the existing traditional fund to the infrastructure used by crypto companies.
Integration via Lynq and tZERO
The fund was offered through Lynq, a clearing network designed for institutional digital asset firms. FTIXX is the first external fund and only the second asset currently available on the network. Trading is conducted through tZERO Securities, an SEC-registered broker-dealer, with clients required to undergo eligibility checks and onboarding processes.
The technological infrastructure of Lynq is based on a private, permissioned Layer 1 blockchain network from Avalanche (AVAX). More than 30 institutional firms operate on the network, managing assets valued at approximately $89 million. Integrating FTIXX required technological adjustments, integration with the Mosaic system, and restricting access exclusively to US-based clients.
Strategic Difference from Wall Street Competitors
Goldman Sachs' move differs from the approach adopted by some major Wall Street competitors. BlackRock launched BUIDL as a tokenized fund, while Franklin Templeton offers computerized shares of its money market fund via BENJI. Goldman Sachs, however, keeps FTIXX as a traditional fund and introduces it directly into the operational environment where crypto companies operate.
According to Lynq CEO Gerald David, the move came in response to client demand for a treasury asset with a yield profile different from what was previously available on the platform. For institutional crypto firms, the ability to use FTIXX allows them to hold liquid cash between trades, generate yield, and quickly return it to activity when needed instead of leaving funds idle.
