Goldman Sachs connected its $100 billion money market fund to the Avalanche blockchain. Not a single token was issued. BlackRock and Franklin Templeton actually issued tokens, with shares directly living on-chain. Goldman didn’t do that—the fund is still the same old fund. The blockchain is only responsible for settlement. Money is piling onto this chain. Over the past seven days, tokenized stocks brought in $131 million, 8x more than the second place, and more than all other chains combined. AVAX was $7.56 four weeks ago, now it’s $10.90. Meanwhile, Bitcoin ($BTC) only gained 7% during the same period. Goldman’s fund shares haven’t moved on-chain at all, but the price is running faster than the shares. The next major institution to move its fund on-chain? I bet they’ll copy Goldman and won’t issue tokens.