Franklin Templeton launches dedicated crypto division after closing 250 Digital acquisition

The new unit arrives amid rapid growth in tokenized assets, with Franklin Templeton's onchain product suite expanding from roughly $768 million to more than $2.5 billion over the past year.

Global asset manager Franklin Templeton has completed its acquisition of crypto asset manager 250 Digital, closing a deal first announced in April and expanding its digital asset business with a new division focused on cryptocurrency investing.

As part of the transaction, Franklin Templeton absorbed 250 Digital's investment team and cryptocurrency strategies into a newly created division called Franklin Crypto. The unit will be led by former 250 Digital executives Christopher Perkins and Seth Ginns alongside Franklin Templeton digital assets executive Tony Pecore.

The acquisition follows CoinFund's decision earlier this year to spin out its liquid strategies business into 250 Digital as the crypto investment firm sharpened its focus on venture investing.

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