Goldman Sachs Brings $100 Billion Treasury Fund to Institutional Crypto Firms

Goldman Sachs has made its roughly $100 billion Treasury fund, FTIXX, available to institutional digital-asset firms through Lynq's settlement network. The fund will be offered with trades handled by SEC-registered broker-dealer tZERO Securities.

Lynq is a private blockchain network that allows for the transfer of traditional assets between institutions. It has more than 30 onboarded clients and over $89 million in assets, according to the company.

This move marks a shift towards bringing traditional Wall Street funds into the digital-asset space without requiring the creation of tokenized versions. Lynq's CEO, Jerald David, noted that there is a convergence between traditional market participants and digital-asset firms, with many clients looking for alternative places to put their cash.

The $100 billion Treasury fund will give institutional crypto firms a new place to earn yield on their money between trades, rather than leaving it idle. Lynq's clients have been asking for this type of product, which will provide them with an additional option for managing their cash flow.