Overview
- Franklin Templeton closed its acquisition of 250 Digital and formally created Franklin Crypto as a dedicated digital-asset division.
- The full 250 Digital investment team moved into Franklin Crypto and brought liquid strategies that originated at CoinFund into Franklin’s platform.
- Christopher Perkins will lead Franklin Crypto as head while Seth Ginns will serve as chief investment officer and Tony Pecore joins from Franklin’s digital-assets group.
- Franklin used tokenized BENJI shares of its on-chain U.S. money market fund as part of the purchase consideration, showing it will use its tokenization infrastructure commercially.
- The deal reflects a wider trend of legacy asset managers buying crypto specialists to offer regulated, actively managed crypto exposures to pensions, sovereign funds and large allocators.