Franklin Templeton Closes 250 Digital Deal, Launches Franklin Crypto Division
Franklin Templeton has completed its acquisition of active crypto investment manager 250 Digital and launched a dedicated division called Franklin Crypto. The new unit will focus on actively managed cryptocurrency strategies for institutional investors.
What happened?
Franklin Templeton has completed its acquisition of active crypto investment manager 250 Digital and launched a dedicated division called Franklin Crypto. The new unit will focus on actively managed cryptocurrency strategies for institutional investors.
Why it matters
The move matters because it gives Franklin Templeton a dedicated structure for offering institutional investors actively managed crypto strategies. The new division combines 250 Digital’s investment team and liquid cryptocurrency strategies with Franklin Templeton’s global distribution network, expanding the firm’s digital asset push through an acquired specialist team.
Franklin Templeton has closed its acquisition of 250 Digital and created Franklin Crypto, a new corporate division dedicated to active cryptocurrency investment management. The $1.7 trillion asset manager did not disclose the financial terms of the transaction.
The move matters because it gives Franklin Templeton a dedicated structure for offering institutional investors actively managed crypto strategies. The new division combines 250 Digital’s investment team and liquid cryptocurrency strategies with Franklin Templeton’s global distribution network, expanding the firm’s digital asset push through an acquired specialist team.
Franklin Templeton first announced the acquisition and the planned crypto division in April. With the deal now closed, the company said it will also invest its own capital into these liquid strategies as part of the closing agreement.
The new unit absorbs the entire 250 Digital investment team, along with all liquid cryptocurrency strategies they previously ran under CoinFund. Franklin Templeton said the division will be co-led by crypto industry veterans Christopher Perkins and Seth Ginns.
Perkins will serve as head of Franklin Crypto and chief investment officer. The launch adds another institutional asset management brand to the growing group of traditional finance firms building dedicated digital asset businesses.