Goldman Sachs Asset Management has extended access to its $100 billion Financial Square Treasury Instruments Fund (FTIXX) to institutional crypto firms through Lynq, a private, permissioned settlement network built on Avalanche.
According to tZERO, which provides the regulated broker-dealer capabilities powering Lynq's real-time settlement infrastructure, qualified U.S. participants can now buy conventional shares in the existing Treasury fund and use them to earn yield on idle cash. The fund itself was not tokenized — access runs through Lynq's settlement rails rather than an onchain wrapper of the fund's shares.
The move was also announced by Avalanche on its own social media channels, and has drawn wide coverage across crypto-market outlets, which report that more than 30 institutional firms — including B2C2, Wintermute, Galaxy, FalconX, and Fireblocks — are already connected to the Lynq network.
For Goldman, the arrangement offers a way to extend one of its flagship cash-management products to a base of digital-asset-native trading firms without altering the fund's structure or moving Treasury holdings onto a blockchain outright. For Lynq — and its backers on the Avalanche network — it is the highest-profile institutional name yet to route activity through the settlement layer, a credibility marker as banks and asset managers weigh how much of their infrastructure to expose to crypto-native counterparties.
Neither Goldman Sachs Asset Management nor Lynq has published its own press release describing the arrangement in detail; the tZERO announcement and Avalanche's social posts are, for now, the primary on-record confirmations. Transaction volumes and a full list of participating firms have not been disclosed.
The launch adds to a fast-growing list of ways institutional money is meeting blockchain rails without full tokenization — alongside efforts like State Street and Galaxy Digital's onchain cash-sweep fund and The Clearing House's tokenized-deposit initiative with Quant Network — suggesting settlement-layer integration, rather than asset tokenization itself, may be the more immediate institutional entry point.