Goldman Sachs Treasury Fund FTIXX to Be Offered on Lynq, an Avalanche L1

Avalanche announced on X that Goldman Sachs will offer its flagship Treasury fund FTIXX on Lynq, a private, permissioned Avalanche L1, making FTIXX the first outside fund on the network. Crypto News reports that clients onboarded with both Lynq and tZERO Securities, a licensed broker-dealer through which trades run, can hold cash on the chain and earn yield; access is limited to qualified U.S. clients and the clients receive the ordinary institutional share class rather than a tokenised one. Crypto News lists more than 30 institutional digital asset firms already on the network, including B2C2, Wintermute, Galaxy, FalconX and Fireblocks. Blockchain.News frames the move alongside $131.2 million of tokenized stock inflows into Avalanche in the week ending 25 September and a $266 million rise in Avalanche RWA market cap over 30 days, and links it to the Avalanche9000 upgrade, which it says cut the cost of running subnet chains. The same outlet reported AVAX reaching $11.59 on 29 September, $12.01 intraday on 30 September, then falling back to $11.16 on a net loss for the day, while Crypto News put AVAX at $11.59 at 10:16 UTC on 29 September, up 6.3% over seven days, after a low near $10.10 on 25 September. What is unclear is whether any real cash flows through Lynq: Crypto News says the next step is proof of actual flows, and because Lynq is permissioned, its link to the public AVAX token is indirect.