Franklin Templeton has agreed to buy 250 Digital, a crypto investment firm formed from CoinFund, according to The Wall Street Journal reporting. The goal with this acquisition is to improve its digital asset strategy and create a dedicated crypto division of the institution.
The deal lays the groundwork for a new business line called Franklin Crypto. The unit targets pensions, private equity funds, and large institutional investors seeking exposure to digital assets through regulated investment structures.
The terms of the transaction remain undisclosed. The acquisition reflects the continued growth of traditional financial institutions in crypto markets despite the long-term drag on digital asset valuations.
Franklin Templeton has over $1.7 trillion in assets. The company entered digital assets in 2018 and built a team focused on blockchain systems, token tools, and crypto investment products. The group includes more than 50 professionals in all investment and technology roles.
The company is among the first issuers of US bitcoin exchange-traded funds to launch in 2024.
The acquisition of 250 Digital brings two major crypto investment managers to the Franklin building. Christopher Perkins and Seth Ginns lead the company. Both worked at CoinFund prior to the spinout and held roles in institutional investment and digital asset markets.
The new division will focus on building the institution’s capital portfolio. The strategy includes liquid token markets, corporate exposure, and structured products tied to blockchain infrastructure.
Institutional demand for bitcoin and crypto
Franklin Templeton head of innovation Sandy Kaul said market conditions in digital assets have opened the way for talent acquisition and expansion of the platform. Kaul explained the changing patterns of the facility’s needs and said that the company is looking at the current location as a building site.
The crypto market has faced a major downturn after previous peaks. Bitcoin has fallen from highs of over $126,000 to levels around half that amount. The total market value of digital assets has dropped by billions. Trading prices and valuations across all token sectors have depressed multiple cycles.
Institutional participation is not retreating at the same pace. Major asset managers continue to launch new products, expand custodial relationships, and develop token systems that link traditional securities with blockchain instruments.
Franklin Templeton has expanded partnerships with digital asset firms to support token products. One partnership with Binance enables the use of token fund shares as collateral for trading activity. The structure connects traditional money market products with crypto market infrastructure.
The acquisition follows a broader trend among global asset managers entering the crypto market through exchange-traded products, custodial partnerships, and token exploration projects.
These companies continue to expand their reach into trading, investing, and infrastructure development related to blockchain systems.
