Franklin Templeton Closes 250th Digital Deal, Launches Institutional Crypto Division
Franklin Templeton has completed the purchase of 250 Digital, a crypto investment company spun off from CoinFund in January 2026, and used the closing to launch a new business line of the institution called Franklin Crypto.
The deal, which was first announced in April, marks one of the biggest asset manager’s concrete steps to build a dedicated crypto operation internally.
250 Digital came into existence at the beginning of 2026 as an independent organization recorded in CoinFund Management, with a team built on liquid crypto strategies and institutional level portfolio construction.
Christopher Perkins, who led the company, will now lead Franklin Crypto. Seth Ginns, chief investment officer of 250 Digital, will cover that topic in a new section. Both spent years at CoinFund before the spinout and bring deep roots in the world of digital assets.
The new Franklin Crypto unit is aimed at pensions, private equity funds, and large equity investors seeking exposure to digital assets through managed properties. Its strategy includes liquid token markets, corporate exposure, and structured products tied to blockchain infrastructure.
One of the most prominent details of the transaction is how it was paid. Franklin Templeton used BENJI tokens – the on-chain representation of the Franklin OnChain US Government Money Fund – as part of the acquisition consideration.
That makes the deal among the first major M&A transactions in financial services to be paid for using token fund shares instead of cash or traditional securities.
BENJI tokens give holders exposure to a regulated fund of the US capital market recorded on a public blockchain. Franklin Templeton has spent years building that infrastructure, and using it as an M&A currency signals that the company views its tokenization stack as a live trading tool, not a proof of concept.
Franklin Templeton’s long bet on bitcoin and digital assets
Franklin Templeton CEO Jenny Johnson has been forthright about her view of blockchain’s threat to traditional finance — arguing that blockchains are putting pressure on Wall Street’s cost structures, not just its technology.
That situation is in line with the company’s recent moves: introducing a Bitcoin ETF years before the need for an institution was realized, introducing ETFs that also invest in stocks in Bitcoin, and now they are getting a crypto-native team to run the institution at a high level.
The acquisition of 250 Digital is the best step yet. Instead of locking in crypto exposure within an ETF or fund sleeve, Franklin Templeton creates diversification through his leadership, investment philosophy, and authority to follow institutional markets.
With over $1.5 trillion in assets under management, Franklin Templeton’s full commitment to a dedicated crypto unit sends a signal to the entire asset management industry. The company does not treat digital assets as a by-product.
It operates, receives, and issues funds as if crypto were a permanent fixture in the institution’s portfolio.
