tZERO Brings Goldman Sachs’ $105 Billion Treasury Fund to Crypto Settlement Network Lynq

Crypto trading firms can now put idle cash into a Goldman Sachs Treasury money market fund through Lynq, a settlement network that runs on a private Avalanche blockchain.

tZERO, whose broker-dealer handles the trades, announced Monday that it is bringing the Goldman Sachs Financial Square Treasury Instruments Fund (FTIXX) to qualified U.S. participants on Lynq. The fund held about $105 billion in net assets at the end of August, Goldman reported in its latest monthly filing with the Securities and Exchange Commission.

FTIXX is the first outside fund offered on Lynq. Lynq CEO Jerald David said in an interview that it is the network’s second investment product and that clients had asked for “a treasury asset on the platform that may have had a different yield profile than the other instrument that’s on there right now.”

“We needed to demonstrate that there was client demand,” he said.

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Arca Labs, Tassat and tZERO built Lynq so institutions could settle with one another in real time and earn interest on balances along the way. The network went live in July 2025 with partners including B2C2, Wintermute, Galaxy, FalconX and Crypto.com. The company counts more than 30 institutional clients and over $89 million in assets on the network.

Trading desks often sit on cash between deals, and the fund lets them earn Treasury yield on it and redeem when they need it. Access is limited to U.S. clients, David said. Clients also have to be onboarded by tZERO Securities and pass the required eligibility checks.

The shares available on Lynq are the fund’s ordinary Institutional class, not a tokenized version. That class held $97.3 billion of the total at the end of August. The same fund also has a Token Shares class, GDTXX, which held about $10,400. Its May 2025 prospectus said the fund itself didn’t use blockchain technology at the time, and that those shares were expected to be held through intermediaries that “intend to use blockchain technology to maintain a record or a mirror record of share ownership for their customers.”

tZERO said in its announcement that the deal shows “regulated financial services working alongside the infrastructure that modern markets require.”

Separately, CFTC staff said on Sept. 24 that futures brokers may invest customer funds in tokenized versions of investments they are already allowed to hold.

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