The Wall Street Journal reported that Franklin Templeton agreed to acquire 250 Digital, a crypto-focused spinoff from CoinFund, to expand its digital-asset investment offering. According to the report, the new unit will be called Franklin Crypto and is being positioned for institutional investors such as pensions and sovereign wealth funds.
The report said 250 Digital was spun out from CoinFund in January and is led by former CoinFund executives Christopher Perkins and Seth Ginns. Terms of the deal were not disclosed. Franklin Templeton, which had more than $1.7 trillion in assets under management as of February, has been building in crypto since 2018 and already has a digital-assets team of more than 50 people.
The next point to watch is when the transaction closes and how Franklin integrates 250 Digital into its broader crypto strategy. For now, the deal signals a deeper institutional push into digital assets rather than a tactical product expansion.
Source: The Wall Street Journal.
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