Franklin Templeton is acquiring crypto investment firm 250 Digital to launch its dedicated digital asset division, Franklin Crypto, as institutional interest in the sector accelerates.
The deal, expected to close in the second quarter, will see Franklin Templeton integrate 250 Digital’s team and strategies while committing capital to its crypto investment products.
“Crypto’s institutional moment has arrived, and Franklin Crypto will help our global clients navigate this complex and rapidly evolving asset class,”
Said Franklin Crypto head Christopher Perkins.
The acquisition also brings leadership from 250 Digital, with Perkins joining as division head and Seth Ginns appointed chief investment officer of the new unit.
“This is an exciting addition for Franklin Templeton, and we’re pleased to welcome Chris, Seth and the 250 Digital team to our firm,”
Said CEO Jenny Johnson, adding the move strengthens its institutional crypto capabilities.
Following the announcement the Franklin Templeton share price was unchanged at $XX.
Franklin Templeton will use its BENJI token, linked to its on-chain money market fund, as part of the transaction, marking a rare example of an M&A deal incorporating blockchain-based assets.
The move builds on the firm’s broader digital asset strategy, including recent efforts to launch tokenised exchange-traded funds and expand its blockchain footprint across networks such as Ethereum, Solana, Base and Arbitrum.
At the time of reporting, Ethereum price was $2,139.06.