Franklin Templeton Launches Crypto Unit After 250 Digital Deal

Franklin Templeton has launched a new digital asset division, Franklin Crypto, following the close of its acquisition of 250 Digital, an active crypto investment manager. The deal was first announced in April. 250 Digital was formed in January after being spun out of CoinFund, the venture firm known for early-stage crypto investing.

The acquisition brings the full 250 Digital team and a suite of liquid crypto strategies that CoinFund had previously managed. Franklin Templeton said it also invested in those strategies as part of the transaction, calling it a bet on long-term institutional infrastructure for digital assets.

Christopher Perkins, who co-founded 250 Digital, will head Franklin Crypto. Seth Ginns, also a 250 Digital founder, will serve as chief investment officer alongside Tony Pecore, a veteran of Franklin Templeton's existing digital assets team.

The new division will offer actively managed crypto strategies to institutional clients, combining the acquired investment capabilities with Franklin Templeton's distribution network and risk systems. The firm already had a digital asset research arm but lacked a dedicated active-management unit for crypto.

The launch comes as traditional asset managers increasingly build out crypto offerings, though most have leaned on passive products such as futures-based ETFs. Franklin Templeton's move signals a bet on active management in a market where institutional adoption remains patchy but growing. The firm did not disclose the size of the strategies or the purchase price.

Perkins and Ginns previously led CoinFund's liquid investments. Their shift to Franklin Templeton gives the firm direct access to a team that has been trading and investing in crypto since before the 2021 bull run. 250 Digital was one of the few active crypto managers that had survived the bear market without a forced shutdown.