Global asset manager Franklin Templeton will expand its crypto business by acquiring 250 Digital, a spinoff from crypto-native investment firm CoinFund that runs liquid crypto investment strategies. The deal will become part of a new unit called Franklin Crypto when it closes.
CoinFund spun out its liquid strategies earlier this year to focus more on venture investing. Franklin Templeton said the undisclosed transaction includes the 250 Digital investment team and all liquid cryptocurrency strategies previously run by CoinFund, and that Franklin will also invest in those strategies as part of the agreement.
Christopher Perkins will lead Franklin Crypto. Seth Ginns will serve as chief investment officer alongside Franklin Templeton digital assets veteran Tony Pecore as the firm broadens its crypto investment platform for institutional clients. The acquisition will also incorporate BENJI tokens, which represent ownership shares in the Franklin OnChain US Government Money Fund (FOBXX), a tokenized, regulated money market fund Franklin Templeton launched in 2021.
The transaction is expected to close in the second quarter of 2026, subject to definitive agreements, client consents and customary closing conditions. Franklin Templeton’s digital asset arm manages roughly $1.8 billion and has been building a presence in crypto since 2018. The firm was among the asset managers that launched a US-listed spot Bitcoin ETF in 2024.
The deal comes amid a prolonged crypto market slump — Bitcoin was down about 45% from its October 2025 peak above $126,000 — but Franklin says the environment is drawing talent and creating chances to build long-term infrastructure. Sandy Kaul, Franklin’s head of innovation, said the recent selloff created a unique opportunity and helped prompt the move.