Franklin Templeton expands digital asset operations through 250 Digital acquisition
In a move to strengthen its cryptocurrency presence, Franklin Templeton will acquire 250 Digital, a CoinFund spinoff entity, establishing Franklin Crypto as its dedicated institutional digital asset management division.
International investment management firm Franklin Templeton is poised to strengthen its presence in the cryptocurrency sector through the acquisition of an entity spun off from crypto-focused investment company CoinFund.
In an announcement made on Wednesday, Franklin Templeton revealed its intentions to purchase 250 Digital, an entity created from CoinFund that specializes in managing liquid cryptocurrency investment strategies, thereby broadening the scope of the asset manager's digital currency operations. Following the completion of this transaction, the acquisition will become an integral component of a newly established division to be known as Franklin Crypto.
This strategic acquisition comes in the wake of CoinFund's earlier decision during the current year to separate its liquid strategies division into the standalone entity 250 Digital, as part of the firm's strategic pivot to concentrate more heavily on venture capital investments.
The newly formed Franklin Crypto division will be headed by Christopher Perkins, with Seth Ginns assuming the role of chief investment officer, working in tandem with Tony Pecore, a seasoned professional within Franklin Templeton's digital assets division, as the firm works to enhance its cryptocurrency investment offerings designed specifically for institutional investors.
The acquisition agreement will encompass BENJI tokens, digital assets that function as ownership representations in the Franklin OnChain US Government Money Fund (FOBXX), a money market fund that Franklin Templeton tokenized and brought to market in 2021 as a regulated financial product.
Acquisition involves all liquid strategies previously run by CoinFund
According to Franklin's statement, the deal, whose financial terms were not made public, encompasses the entire 250 Digital investment team along with all liquid cryptocurrency investment strategies that were previously operated under CoinFund's management, and additionally, the company will allocate capital to invest in these strategies as an element of the overall agreement.
The completion of this transaction is anticipated to occur during the second quarter of 2026, pending the finalization of definitive transaction documentation, obtaining necessary client approvals and satisfying additional standard closing requirements.
The digital asset division of Franklin Templeton currently oversees approximately $1.8 billion in assets under management and has established itself as a significant institutional participant within the cryptocurrency sector, having actively constructed its market position beginning in 2018.
The firm has gained recognition for being among the pioneering asset managers to introduce a US-listed spot Bitcoin exchange-traded fund to the market alongside other leading asset management companies including BlackRock during 2024.
This acquisition is taking place against the backdrop of an extended downturn in cryptocurrency markets, with Bitcoin having declined approximately 45% from its all-time high exceeding $126,000 that was achieved in October 2025.
Despite the challenging market conditions, Franklin Templeton maintains that the current environment is generating opportunities to attract top-tier talent and establish foundational infrastructure for sustained long-term growth.
In comments provided to The Wall Street Journal, Sandy Kaul, Franklin's head of innovation, indicated that the recent downturn in market valuations helped establish favorable conditions for the firm's expansion strategy.
This big selloff that we had in the crypto markets is creating a very unique opportunity that really made us all decide that this is the right time to pull the trigger.
Sandy Kaul, Franklin Templeton head of innovation