TZERO adds Goldman Sachs $105 billion Treasury fund to Lynq network

What happened

tZERO said it will bring the Goldman Sachs Financial Square Treasury Instruments Fund (FTIXX) to qualified U.S. participants on Lynq. The broker-dealer tZERO Securities handles trades, and clients must pass onboarding and eligibility checks. The fund held about $105 billion in net assets at the end of August, according to Goldman's monthly filing with the SEC.

FTIXX is the first outside fund on Lynq and the network's second investment product. Lynq CEO Jerald David said clients had asked for a treasury asset with a different yield profile than the instrument already on the platform. Arca Labs, Tassat and tZERO built the network, which went live in July 2025 with partners including B2C2, Wintermute, Galaxy, FalconX and Crypto.com.

The shares 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, while a Token Shares class, GDTXX, held about $10,400. Lynq runs on a private, permissioned Avalanche Layer 1 blockchain. Before adding FTIXX, the network updated its technology, limited access to U.S. clients and connected with Mosaic.

Why it matters

Trading desks often sit on cash between deals, and the fund lets them earn Treasury yield on that cash and redeem when they need it. Firms can seek fund income while keeping money available for future settlement needs. Access is limited to U.S. clients who are onboarded by tZERO Securities.

This setup differs from BlackRock's BUIDL and Franklin Templeton's BENJI, which use tokenized fund structures. Goldman Sachs keeps FTIXX in its existing form and uses Lynq as the distribution channel. The launch follows CFTC staff guidance that futures brokers may invest customer funds in tokenized versions of investments they are already allowed to hold.

What the data shows

• $105 billion: FTIXX net assets at the end of August, per Goldman's SEC filing.
• $97.3 billion: the Institutional class share of the fund's total at the end of August.
• about $10,400: assets in the Token Shares class GDTXX.
• over $89 million: assets on Lynq, alongside more than 30 institutional clients.
• roughly $100 billion: the size CoinCentral gave for the same Treasury fund.

What is still unclear

• Two reports size the fund differently: one says about $105 billion in net assets, the other describes a roughly $100 billion Treasury fund.
• David referred to a different yield profile than the other instrument already on the platform, but neither report names that existing product.
• Neither report says whether a tokenized share class of FTIXX will reach Lynq. The fund's May 2025 prospectus said it did not use blockchain technology at the time.

Questions readers ask