Franklin Templeton Completes 250 Digital Deal, Launches Franklin Crypto Unit

Franklin Templeton, the global asset manager with $1.7 trillion in assets under management, has launched a dedicated digital-asset investment unit.

CoinDesk reported on June 23 that Franklin Templeton completed its acquisition of crypto investment firm 250 Digital and established Franklin Crypto, an active digital-asset investing business for institutional clients.

Franklin Templeton disclosed plans in April to acquire 250 Digital and launch the new digital-asset division. It did not reveal the value of the transaction.

Franklin Crypto will combine the investment capabilities of 250 Digital's team with Franklin Templeton's global distribution network to offer active digital-asset investment strategies for institutional investors. Franklin Templeton also plans to commit its own capital to those strategies.

As part of the acquisition, all of 250 Digital's investment staff will join Franklin Crypto. The liquidity-focused digital-asset strategy the team had managed under CoinFund will also be transferred.

Industry veterans Christopher Perkins and Seth Ginns will serve as co-heads of Franklin Crypto. Perkins will also serve as chief investment officer.