Franklin Templeton Acquires 250 Digital to Launch Dedicated Crypto Division

Franklin Templeton, a leading Wall Street asset management firm, is launching a dedicated cryptocurrency division following its acquisition of 250 Digital. The new unit, Franklin Crypto, will integrate the 250 Digital team and its liquid crypto strategies, previously managed by CoinFund, to serve institutional investors. The division will be led by Christopher Perkins, a former CoinFund executive, alongside Seth Ginns as chief investment officer and Tony Pecore, a Franklin Templeton digital assets executive. Reporting to Sandy Kaul, the firm’s head of innovation, the unit aims to build on Franklin Templeton’s existing digital asset business, which currently manages approximately $1.8 billion. The acquisition reflects a broader trend among major asset managers to move beyond passive exposure, such as exchange-traded funds, toward developing in-house crypto capabilities. Franklin Templeton’s CEO, Jenny Johnson, emphasized that the deal strengthens the firm’s ability to provide specialized crypto expertise to clients globally. The new division also introduces an experimental element: part of the acquisition’s consideration will be paid using BENJI tokens, which are linked to Franklin Templeton’s on-chain U.S. Government Money Fund. This approach leverages blockchain infrastructure to process transactions and record ownership, signaling early steps toward using tokenized assets in mergers and acquisitions. The acquisition is expected to close in the second quarter of 2026, pending regulatory approvals and other conditions. Financial terms of the deal were not disclosed. The launch of Franklin Crypto underscores the growing institutional interest in digital assets and the increasing demand for structured investment strategies in the crypto space. As more large investors seek exposure to cryptocurrencies, Franklin Templeton’s move positions it to capitalize on this evolving market.