Franklin Acquires 250 Digital! Launches Franklin Crypto to Expand Crypto Investment Business

Franklin Templeton Acquires 250 Digital to Form Franklin Crypto, Targeting Institutional-Level Crypto Markets and Accelerating Its Layout During the Pullback.

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According to The Wall Street Journal, Franklin Templeton, with assets under management totaling $1.7 trillion, has agreed to acquire “250 Digital,” a company spun out from crypto venture capital firm CoinFund, to further expand its crypto investment product lineup.

Citing comments from Sandy Kaul, innovation chief at Franklin Templeton, The Wall Street Journal said on Wednesday that after the deal closes, the newly formed crypto business unit will be named “Franklin Crypto,” focusing on institutional investment markets. Its customer base includes retirement funds, sovereign wealth funds, and other large institutional investors. The specific terms of the transaction have not been disclosed.

At present, both parties have not publicly revealed the specific transaction amount and terms.

250 Digital spun out as an independent entity from venture firm CoinFund in January this year, led by CoinFund’s two senior executives, Christopher Perkins and Seth Ginns.

Franklin Templeton has been involved in the crypto industry since 2018. It now has a digital assets team of about 50 people, and under its banner it has already launched a tokenized cryptocurrency market fund. It is also the issuer of U.S. Bitcoin and Ethereum spot ETFs.

Sandy Kaul told The Wall Street Journal: “The recent sharp pullback in the crypto market has created a very rare miracle—one that led our entire team to agree that now is the perfect time to ‘pull the trigger’ and take action.”

She further noted that as the market has gone through turbulence and turmoil, many top trading talents in crypto assets