Wall Street asset management giant Franklin Templeton is setting up a dedicated cryptocurrency unit to deepen its entry into the digital asset field based on its planned acquisition of crypto investment company 250 Digital.
The new unit, called Franklin Crypto, will integrate the 250 Digital team and its liquid crypto strategies (previously managed by CoinFund) into a structure aimed at institutional investors, the company said on Wednesday.
Former CoinFund executive Christopher Perkins will lead the unit, with Seth Ginns serving as chief investment officer alongside Franklin Templeton digital assets executive Tony Pecore. The group will report to Sandy Kaul, the company’s head of innovation.
The move builds on Franklin Templeton’s existing digital asset business, which has approximately $1.8 billion under management, and marks Franklin Templeton’s shift towards offering more active cryptocurrency investment strategies based on its existing products.
“This is an exciting addition to Franklin Templeton,” CEO Jeanne Johnson said, adding that the deal enhances the company’s ability to provide dedicated cryptocurrency expertise to clients around the world.
The launch of Franklin Crypto reflects a broader trend among large asset managers, which are moving beyond passive exposures such as exchange-traded funds and toward building in-house capabilities.
Perkins said the move is designed to meet that need. “Cryptocurrencies’ moment of institutionalization has arrived,” he said, citing growing interest from large investors seeking structured exposure to digital assets.
The deal also includes an experimental element: part of the consideration will be paid using BENJI tokens linked to the U.S. government monetary fund on the Franklin Templeton chain. The fund uses blockchain infrastructure to process transactions and record ownership.
This approach suggests taking early steps to use tokenized assets for M&A and settlement more directly on blockchain rails.
The acquisition is expected to close in the second quarter of 2026, subject to approvals and other conditions. Financial terms were not disclosed.
