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 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 structure aimed at institutional investors, the firm said on Wednesday.
Former CoinFund executive Christopher Perkins will lead the division, 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 chief innovation officer.
The move builds on Franklin Templeton’s existing digital assets business, which manages around $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 company’s ability to offer dedicated crypto expertise to 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 building in-house capabilities.
Perkins said the effort aims to meet that demand. “The institutional moment for cryptocurrencies has arrived,” he said, noting the 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, pegged to Franklin Templeton’s on-chain US Government Monetary Fund. The fund uses blockchain infrastructure to process transactions and record ownership.
That approach suggests first steps toward conducting M&A using tokenized assets, with settlement occurring 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.
