Franklin Templeton has agreed to acquire 250 Digital, a cryptocurrency investment management firm that recently spun out from the venture capital firm CoinFund. The deal includes 250 Digital’s investment team and all its liquid cryptocurrency strategies previously managed under CoinFund. Following the acquisition, Franklin Templeton will launch a new dedicated unit called Franklin Crypto.
Christopher Perkins, formerly CoinFund president, will head Franklin Crypto and Seth Ginns formerly CoinFund managing partner and head of liquid investments, will serve as Chief Investment Officer. They will work alongside Franklin Templeton’s digital assets veteran Tony Pecore. The new unit will report to Sandy Kaul, head of innovation at Franklin Templeton.
Financial terms were not disclosed. Franklin Templeton will invest in the acquired strategies. A portion of the consideration is reportedly being paid in BENJI tokens (shares of Franklin Templeton’s tokenized on-chain U.S. government money market fund, one of the first U.S.-registered funds to use blockchain for share ownership).
This makes it a notable early use of tokenized assets in an M&A transaction. The deal is expected to close in Q2 2026, subject to customary conditions and client approvals. The move expands Franklin Templeton’s digital assets capabilities; it currently has about $1.8 billion in its digital assets group, out of over $1.7 trillion in total AUM.
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Franklin Crypto will focus on active, liquid crypto strategies aimed at institutional investors such as pensions, sovereign wealth funds, and other large clients. It combines crypto-native expertise from the 250 Digital team with Franklin Templeton’s global distribution network. 250 Digital was formally spun out from CoinFund in January 2026 to focus on active cryptocurrency investment management (liquid strategies), separating from CoinFund’s core venture investing activities.
Perkins and Ginns brought a mix of traditional finance experience and crypto expertise. This acquisition is part of a broader trend of traditional asset managers deepening their involvement in crypto and digital assets, especially amid evolving regulatory discussions around tokenized securities and institutional adoption.
The firm, with over $1.7 trillion in total AUM, currently manages about $1.8 billion in digital assets. The acquisition brings in active, liquid crypto strategies, a seasoned team and shifts from mostly passive exposure to active management. This positions Franklin among a small group of traditional asset managers with dedicated institutional-grade crypto teams.
Combines crypto-native expertise with Franklin’s global reach and institutional relationships, potentially accelerating growth in digital assets under Sandy Kaul. Modest near-term balance sheet impact expected. Part of the consideration uses BENJI tokens from Franklin’s tokenized on-chain U.S. government money market fund, marking an early real-world use of tokenized assets in M&A.
Franklin will also invest directly in the acquired strategies. Franklin Resources (BEN) shares saw modest gains, up to ~1.5% in pre-market trading on announcement day, reflecting investor approval of the crypto expansion. Institutions gain access to active crypto strategies beyond basic ETF exposure.
This aligns with growing intentional engagement in digital assets, offering tailored, regulated products for portfolio diversification or alpha generation in a complex asset class. The move capitalizes on a recent crypto market selloff creating a unique opportunity and favorable U.S. policy signals under the current administration, potentially easing regulatory hurdles for tokenized securities and crypto integration.
