Avalanche’s AVAX token fell 5.56% on September 28, trading near $10.30, even as Goldman Sachs made its roughly $100 billion FTIXX Treasury fund available to institutional crypto firms through Lynq, a private, permissioned Avalanche Layer 1 settlement network.
The fund is not tokenized; it remains a traditional financial product. It is the inaugural external fund on Lynq, with trades executed by SEC-registered broker-dealer tZERO Securities. Eligible customers can deposit cash into the Treasury fund between trades and withdraw it when needed, accessing Treasury-linked yield within their digital-asset workflow.
Lynq reports more than 30 institutional digital-asset firms onboarded and more than $89 million in assets on the network. Named users include B2C2, Wintermute, Galaxy, FalconX, Crypto.com, and Fireblocks.
The move extends Avalanche’s institutional narrative. On September 22, Midas launched mWIN and mGLOBAL on Avalanche, linking tokenized strategies to Wellington Management, which oversees over $1.3 trillion, and Fasanara Capital, which manages about $6 billion. Avalanche has also been reported to hold more than $2 billion in tokenized assets, while New York Life Investment Management previously launched what it called Avalanche’s first major tokenized fund. A new Paxos integration is expected to facilitate institutional adoption of native USDC.
Despite the sell-off, technical analyst Javon Marks has projected an AVAX target of $126.03, though this level is not officially confirmed. The article notes that the price decline and institutional adoption appear to be independent trends.
