Franklin Templeton to acquire CoinFund spinoff 250 Digital in crypto expansion push

Wall Street’s push into crypto just picked up more momentum. Franklin Templeton said Wednesday it has agreed to acquire 250 Digital, a cryptocurrency investment unit spun out of CoinFund, marking its latest step deeper into digital assets.

The move lands at a time when large financial institutions are steadily increasing their exposure to crypto, encouraged by a more favorable policy backdrop under the Trump administration. For firms that once kept digital assets at arm’s length, the shift is no longer subtle. It’s becoming part of the playbook.

Franklin Templeton, which oversees more than $1.7 trillion in assets, has spent years laying the groundwork in blockchain and digital asset investing. This deal builds on that early positioning and signals a stronger commitment to turning experimentation into a scaled business line.

Once the transaction closes, the combined operation will be rebranded as “Franklin Crypto.” Financial terms were not disclosed.

The new unit will be led by Christopher Perkins, with Seth Ginns serving as Chief Investment Officer. They will work alongside Tony Pecore, bringing together crypto-native expertise with Franklin Templeton’s global distribution to target institutional growth. The group will report to Sandy Kaul.

Franklin Crypto will build on the firm’s existing crypto and blockchain venture investing capabilities and expand its broader digital asset investment platform. As of December 31, 2025, Franklin Templeton Digital Assets manages approximately $1.8 billion in global assets, providing the firm with an established base from which to scale.

“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 Jenny Johnson. “Together, their investment talent and differentiated strategies strengthen our capabilities in digital assets and position us among a small group of global asset managers with a dedicated, institutional-grade crypto investment management team, enhancing our ability to serve clients worldwide.”

“Crypto’s institutional moment has arrived, and Franklin Crypto will help our global clients navigate this complex and rapidly evolving asset class by delivering the expertise, knowledge, and digital asset products that meet their sophisticated investment needs,” said Perkins. “In partnership with Seth, Tony, and our teams, we will position Franklin Crypto as the global leader in digital asset management.”

“We’re thrilled to join Franklin Templeton and work alongside visionary leaders, including Jenny and Sandy, who have cemented the firm as an early mover and clear leader in the crypto ecosystem as blockchain technology builders, node operators, thought leaders, and active crypto managers,” added Ginns. “We share a long-term vision, and with the client-centric culture and distribution strengths of Franklin Templeton, we are well-positioned to expand our collective reach and accelerate the growth and adoption of our strategies globally.”

The acquisition gives Franklin Templeton immediate access to a team with deep experience in crypto markets and venture investing. It strengthens the firm’s ability to manage digital asset strategies alongside its traditional offerings, a combination more clients are starting to expect.

The deal is expected to close in the second quarter of 2026, pending standard conditions, including client approvals.

For Franklin Templeton, this isn’t a side bet. It’s a clear signal that crypto has moved from the fringe into the core of institutional finance.