Wall Street asset management giant Franklin Templeton is launching a dedicated cryptocurrency division as it deepens its digital assets business, anchored by the planned acquisition of cryptocurrency investment firm 250 Digital.
The new unit, called Franklin Crypto, will bring together the 250 Digital team and its liquid crypto strategies – previously managed by CoinFund – under a single structure aimed at institutional investors, the company announced on Wednesday.
Former CoinFund executive Christopher Perkins will lead the division, with Seth Ginns serving as chief investment officer alongside Tony Pecore, Franklin Templeton’s chief digital assets officer. The group will report to Sandy Kaul, the company’s chief innovation officer.
The move builds on Franklin Templeton’s existing digital assets business, which manages approximately $1.8 billion, and marks a move 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 company’s ability to provide dedicated crypto expertise to its clients around the world.
The launch of Franklin Crypto reflects a broader trend among large asset managers that are moving beyond passive exposure, such as exchange-traded funds, toward developing in-house capabilities.
Perkins said this effort aims to meet that demand. “Crypto’s institutional moment is here,” he said, highlighting growing 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 monetary fund. The fund uses blockchain infrastructure to process transactions and record ownership.
This approach suggests first steps towards completing mergers and acquisitions using tokenized assets, with settlement occurring more directly on blockchain tracks.
The acquisition is expected to be completed in the second quarter of 2026, subject to approvals and other conditions. Financial terms were not disclosed.
