Franklin Templeton is launching a dedicated crypto arm, Franklin Crypto, anchored by its planned acquisition of digital-asset manager 250 Digital — a move that signals the Wall Street giant’s push into more active, institutional-grade crypto strategies.
Under the deal, 250 Digital’s team and its liquid crypto strategies (previously overseen by CoinFund) will be folded into the new unit and marketed to institutional investors. Christopher Perkins, a former CoinFund executive, will lead Franklin Crypto. Seth Ginns will serve 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 announcement builds on Franklin Templeton’s existing digital-asset business, which manages roughly $1.8 billion, and represents a strategic shift from passive exposure — like ETFs — toward in-house active crypto offerings. CEO Jenny Johnson said the move “strengthens the firm’s ability to deliver dedicated crypto expertise to clients globally,” while Perkins framed it as a response to rising institutional demand: “Crypto’s institutional moment has arrived.”
The transaction includes an experimental twist: part of the acquisition consideration will be paid using BENJI tokens, which are connected to Franklin Templeton’s on-chain U.S. Government Money Fund. That fund uses blockchain infrastructure to execute transactions and record ownership, and this payment structure points to early steps in using tokenized assets and blockchain rails for M&A settlement.
The acquisition is expected to close in the second quarter of 2026, subject to approvals and customary conditions. Financial terms were not disclosed. The deal highlights a broader trend among major asset managers building internal crypto capabilities as institutional interest in structured digital-asset exposure grows.
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