Hassan Maishera
TL;DR
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Franklin Templeton has agreed to buy 250 Digital to expand its cryptocurrency-investing offering.
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The acquisition would result in the launch of Franklin Crypto, with strategies focused on institutional investors.
Franklin Templeton to Acquire CoinFund Spinoff
Franklin Templeton, a major player in traditional finance with over $1.7 trillion in assets under management, has announced its acquisition of 250 Digital, a spinoff from the venture firm CoinFund. This move is aimed at expanding its crypto investment offerings.
Once the deal is finalized, the new division will be named Franklin Crypto, focusing on investment strategies for institutional clients such as pensions, sovereign wealth funds, and other large-scale investors. The acquisition includes the entire 250 Digital investment team and the liquid cryptocurrency strategies previously managed by CoinFund. Franklin Templeton will also make investments in these strategies as part of the agreement. However, the financial terms of the deal were not disclosed.
250 Digital, which spun off from CoinFund in January, is led by former CoinFund executives Christopher Perkins and Seth Ginns. They will co-lead the new division alongside Tony Pecore, a veteran of Franklin Templeton Digital Assets, with oversight from Sandy Kaul, Head of Innovation.
"Crypto's institutional moment has arrived, and Franklin Crypto will support our global clients in navigating this complex, rapidly evolving asset class by offering the expertise, knowledge, and digital asset products tailored to their sophisticated investment needs," Perkins said in a statement.
Franklin Templeton has been involved in digital assets since 2018, with a team of approximately 50 professionals in the space. The firm introduced its tokenized money market fund, BENJI, in 2021, and was one of the first to offer U.S.-based exchange-traded funds for Bitcoin and Ethereum following their respective launches in January and July 2024.
"Franklin Crypto will enhance Franklin Templeton’s current portfolio of crypto and blockchain venture capital investments and further develop the firm’s digital assets investment platform," the company said in a statement.
Tony Pecore, head of Franklin Templeton Digital Assets, noted that the recent downturn in the crypto markets presents a unique investment opportunity. "This big selloff in the crypto markets has created a very distinct opportunity, which made us realize this is the right time to move forward," he told The Wall Street Journal. "There will be significant interest in creating a more stable home for top crypto trading talent."
The deal is expected to close in the second quarter of 2026, subject to finalizing transaction agreements, securing client consents, and meeting other customary closing conditions. Additionally, Franklin Templeton plans to incorporate BENJI tokens as part of the payment for the acquisition.
