Wall Street Asset Management giant Franklin Templeton is launching a dedicated cryptocurrency division as it deepens its push into digital assets, anchored by a planned acquisition of crypto investment firm 250 Digital.
The new entity, called Franklin Crypto, will bring together the 250 Digital team and its liquid crypto strategies — formerly managed by CoinFund — under a structure aimed at institutional investors, the firm said Wednesday.
Former CoinFund director Christopher Perkins will lead the division, with Seth Ginns serving as chief investment officer alongside Franklin Templeton digital assets director Tony Pecore. The group will report to Sandy Kaul, the firm’s chief innovation officer.
The move builds on Franklin Templeton’s existing digital asset business, which manages about $1.8 billion, and signals a shift toward offering more active crypto investment strategies alongside its current products.
“This is an exciting addition for Franklin Templeton,” said CEO Jenny Johnson, adding that the deal strengthens the firm’s ability to provide dedicated crypto expertise to clients globally.
The launch of Franklin Crypto reflects a broader trend among large asset managers moving beyond passive exposure, such as exchange-traded funds, towards building internal capabilities.
Perkins said efforts are aimed at meeting that demand. “Crypto’s institutional moment has arrived,” he said, pointing to increasing interest from large investors seeking structured exposure to digital assets.
The transaction also includes an experimental element: part of the consideration will be paid using BENJI tokens, linked to Franklin Templeton’s on-chain US Government Money Fund. The fund uses blockchain infrastructure to process transactions and record ownership.
This approach proposes early steps towards implementing mergers and acquisitions using tokenized assets, with settlement occurring more directly on blockchain rails.
The acquisition is expected to be completed in the second quarter of 2026, subject to approvals and other conditions. Financial terms were not disclosed.
