Goldman Sachs $100 billion Treasury Fund FTIXX connects to Lynq network
Goldman Sachs has connected its approximately $100 billion government bond fund FTIXX to the digital asset settlement network Lynq, providing a new subscription channel for institutional-level crypto companies. The fund will be listed on Lynq, with trading handled by tZERO Securities, a broker-dealer registered with the U.S. Securities and Exchange Commission. This is the first external fund introduced to the Lynq network, which previously only had a single investment product.Unlike most blockchain-based fund products on Wall Street, FTIXX has not been tokenized. BlackRock's BUIDL is a tokenized fund, and Franklin Templeton offers tokenized shares of money market funds through BENJI, while Goldman Sachs retains the traditional fund format of FTIXX, with Lynq opening new access channels for digital asset companies. Lynq CEO Jerald David stated that there is a convergence occurring between traditional market participants and digital asset market participants.For institutions using Lynq, FTIXX provides a place to store cash and earn returns during trading gaps, redeemable when needed. David mentioned that clients have been looking for government bond assets on the platform that offer yields different from existing tools. Lynq's partners include B2C2, Wintermute, Galaxy, FalconX, Crypto.com, and Fireblocks. The network operates on a private permissioned Avalanche Layer 1 blockchain and has connected over 30 institutional digital asset companies, with assets exceeding $89 million.
