Goldman Sachs has opened access to its existing Financial Square Treasury Instruments Fund, known as FTIXX, for qualified U.S. crypto firms through the Lynq Real-Time Settlement Network and broker-dealer tZERO Securities. The arrangement was announced by tZERO on September 28 and does not create a new tokenized share class or a retail wallet product. Instead, it places a familiar Treasury money-market fund closer to institutional crypto settlement and treasury operations.
The fund manages roughly $100 billion in assets and posted a 3.59% seven-day annualized yield for its institutional share class as of September 9, according to Goldman Sachs Asset Management. Crypto trading firms often hold large operational balances for exchange settlement, over-the-counter trades, derivatives margin, custody transfers and client withdrawals. The FTIXX route is designed to let those balances earn current income while remaining available for operational needs, subject to the fund’s rules and liquidity.
The initiative does not put FTIXX on a public blockchain or introduce a blockchain-based representation of fund shares. The digital element surrounds the distribution and account environment: Lynq provides the real-time settlement network, while tZERO Securities acts as the regulated broker-dealer. This differs from the approach JPMorgan is exploring, where money-market fund shares would be represented directly on-chain.
FTIXX remains a regulated money-market fund, not a stablecoin or bank deposit. The fund seeks to maintain a stable $1.00 net asset value, but that outcome is not guaranteed, and FTIXX is not FDIC-insured. The announcement does not specify client minimums, program-specific fees, redemption timelines, or expected asset flows. The key test will be whether institutions integrate the route into routine treasury management rather than using it as a one-off option.
