Franklin Templeton, one of the largest players in traditional finance, with assets exceeding $1.7 trillion, has announced its agreement to acquire 250 Digital, a spinoff from the venture capital firm CoinFund. This strategic move aims to enhance Franklin Templeton’s portfolio in the rapidly evolving cryptocurrency investment sector.
Upon closing the transaction, the newly formed cryptocurrency arm will operate under the name Franklin Crypto, focusing on serving pensions, sovereign wealth funds, and various institutional investors. The deal includes the investment team from 250 Digital and all liquid cryptocurrency strategies that were previously managed by CoinFund. While specific financial terms of the acquisition have not been disclosed, Franklin Templeton has committed to investing in these strategies as part of the agreement.
250 Digital, which was established in January, is spearheaded by former CoinFund executives Christopher Perkins and Seth Ginns. They will co-lead the new arm alongside Tony Pecore, a veteran in digital assets at Franklin Templeton, all reporting to Sandy Kaul, the firm’s Head of Innovation. Perkins expressed confidence in the new venture, stating, “Crypto’s institutional moment has arrived,” and emphasized the importance of providing expertise and sophisticated digital asset products to their global clientele.
Franklin Templeton has been active in the digital assets space since 2018 and has developed a dedicated digital assets team of around 50 professionals. The firm launched a tokenized money market fund known as BENJI in 2021 and was among the first in the United States to issue spot Bitcoin and Ethereum exchange-traded funds at their respective launches earlier this year.
In a statement regarding the acquisition, Franklin Templeton highlighted that Franklin Crypto will broaden its existing offerings in crypto and blockchain venture capital investments and expand its digital assets investment management platform. Sandy Kaul noted that the recent downturn in the cryptocurrency markets presents a unique opportunity for growth, suggesting that there will be an increasing demand for a stable environment for top crypto trading talents.
The transaction is anticipated to close in the second quarter of 2026, contingent on the successful execution of definitive transaction agreements, client consents, and other customary closing conditions. Franklin Templeton indicated that BENJI tokens will serve as part of the payment consideration for the acquisition.
