Franklin Templeton announced Wednesday the formation of a dedicated crypto division called Franklin Crypto, created following its acquisition of 250 Digital, a crypto investment firm that originated as a spinoff from CoinFund. The acquisition is expected to close during the second quarter of the year. As part of the deal, Franklin Templeton will invest in the strategies brought over by the 250 Digital team.
Christopher Perkins, who previously led 250 Digital, will join Franklin Templeton as the division leader of Franklin Crypto. Seth Ginns, who also co-led 250 Digital, will come on board as Chief Investment Officer of the new unit. Both executives are expected to bring their existing crypto investment expertise to the firm’s expanding digital asset operations.
Perkins stated that crypto’s institutional moment has arrived and that Franklin Crypto will help the firm’s global clients navigate the asset class by delivering expertise, knowledge, and digital asset products suited to sophisticated investment needs. The comments reflect a broader push by large asset managers to build out dedicated infrastructure for institutional crypto exposure. Franklin Templeton framed the move as a significant step in its digital asset strategy.
Franklin Templeton CEO Jenny Johnson welcomed the incoming team in a statement, describing the acquisition as an exciting addition to the firm. She noted that the combined investment talent and differentiated strategies would strengthen the firm’s capabilities in digital assets. Johnson added that the deal positions Franklin Templeton among a small group of global asset managers with a dedicated, institutional-grade crypto investment management team.
Financial terms of the acquisition were not disclosed, but the firm revealed that BENJI tokens — representing its on-chain money market fund — will be used as part of the payment considerations. Franklin Templeton described this as an important and innovative step toward conducting mergers and acquisitions on-chain. The tokenized fund was first launched in 2021 and later expanded to Ethereum in 2024.
Since its initial launch, the tokenized fund has expanded to additional blockchain networks including Solana, as well as Ethereum scaling networks Base and Arbitrum. The latest move comes just one week after Franklin Templeton announced a separate deal with Ondo Finance to launch tokenized versions of five of its exchange-traded funds. A representative for the firm did not immediately respond to a request for comment at the time of reporting.
Originally reported by Decrypt.
