Goldman Sachs' Financial Square Treasury Instruments Fund, known as FTIXX and holding roughly $105 billion in net assets as of the end of August, is now reachable by eligible US companies through a blockchain-based settlement network built on Avalanche. The access is being provided by tZERO Securities via Lynq, an institutional settlement platform that launched in July 2025.
For a European audience watching the slow convergence of traditional money markets and blockchain rails, the arrangement is notable less for its scale than for what it is not. tZERO and Lynq are explicit that fund shares are not being tokenized. The blockchain layer is being used to modernise distribution and the management of cash flows, while investors continue to receive ordinary institutional shares of the fund. Lynq functions as access and settlement infrastructure rather than as a vehicle that issues a tokenised representation of FTIXX.
FTIXX invests primarily in short-term US public debt securities, with an objective of capital preservation, high liquidity and yield close to prevailing money market rates. Its institutional share category alone accounted for about $97.3 billion of the fund's assets at the end of August. The new access route is aimed squarely at digital asset trading firms, which frequently hold idle dollar treasury between transactions. Through the Lynq connection, those companies can place that cash into US Treasury securities via FTIXX and retrieve it when liquidity is needed for new trades.
How the access works
Eligible participants on Lynq can subscribe to or redeem shares of the fund through tZERO Securities, a regulated broker, and must complete standard identification and verification procedures before doing so. FTIXX becomes the first external fund distributed on the Lynq network and only the second investment product available on it overall.
Lynq itself was developed by Arca Labs, Tassat and tZERO. Its infrastructure runs on a permissioned Avalanche blockchain reserved for authorised actors, and the network's stated aim is to offer real-time settlement while letting companies keep remunerated balances between transactions. More than 30 institutional clients currently use the network, which holds about $89 million in assets. Firms including B2C2, Galaxy, FalconX, Crypto.com and Wintermute took part in Lynq's initial deployment.
A separate, smaller Goldman product
Goldman Sachs separately runs a share category called GDTXX, whose ownership can be registered by intermediaries on a distributed ledger. That category held about $10,400 at the end of August and is not the product being distributed through tZERO and Lynq. The distinction matters: while GDTXX points toward ledger-based ownership records, the FTIXX access announced via Lynq keeps share ownership on conventional rails and uses blockchain purely for settlement and distribution logistics.
