Global asset manager Franklin Templeton is expanding its presence in the cryptocurrency sector by acquiring a spinoff from CoinFund.
Franklin Templeton announced on Wednesday that it intends to purchase 250 Digital, a firm that has developed liquid crypto investment strategies. This acquisition will allow Franklin Templeton to establish a new division, named Franklin Crypto, designed specifically for institutional crypto investment management.
The transaction aligns with CoinFund’s earlier decision to separate its liquid strategies business as it refocused on venture investments.
Leadership in the New Unit
Christopher Perkins will spearhead Franklin Crypto, while Seth Ginns will act as Chief Investment Officer. They will be joined by Tony Pecore, a seasoned professional in Franklin Templeton’s digital asset division, as they enhance the platform aimed at institutional clients.
Furthermore, the acquisition will include the incorporation of BENJI tokens signifying ownership shares in the Franklin OnChain US Government Money Fund, a money market fund that was tokenized by Franklin Templeton back in 2021.
Deal Details
Franklin stated that the undisclosed deal encompasses the complete investment team from 250 Digital along with all liquid cryptocurrency strategies previously overseen by CoinFund. The firm will also invest in these strategies under the new arrangement.
This acquisition is anticipated to be finalized by the second quarter of 2026, pending the completion of essential agreements, client approvals, and other typical closure conditions.
Franklin Templeton’s digital asset sector currently manages approximately $1.8 billion in assets and has emerged as a key institutional player in the crypto arena, a market it has been cultivating since 2018.
Known for being a pioneer in the industry, Franklin Templeton partnered with other leading asset managers like BlackRock to launch a US-listed spot Bitcoin ETF in 2024.
The acquisition coincides with a prolonged downturn in the crypto market, with Bitcoin prices having dropped around 45% since their October 2025 peak of over $126,000. Despite this, Franklin Templeton believes that the current climate is drawing in talent and paving the way for long-term infrastructure development.
Sandy Kaul, head of innovation at Franklin, remarked that the recent downturn has provided a unique opportunity for expansion. “This sizable selloff in the crypto markets has created a rare chance that convinced us that now is the ideal moment to proceed,” Kaul expressed.
