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 unit, called Franklin Crypto, will bring together the 250 Digital team and its liquid crypto strategies — previously managed by CoinFund — under one structure aimed at institutional investors, the firm said 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 firm’s head of innovation.
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,” CEO Jenny Johnson said, adding that the deal strengthens the firm’s ability to deliver dedicated crypto expertise to clients globally.
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 is aimed at meeting that demand. “Crypto’s institutional moment has arrived,” he said, pointing to 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 U.S. Government Money Fund. The fund uses blockchain infrastructure to process transactions and record ownership.
That approach suggests early steps toward conducting mergers and acquisitions 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.