Investment manager Franklin Templeton said on Wednesday that it has reached an agreement to acquire 250 Digital, a cryptocurrency investment business that was spun out of venture firm CoinFund, as part of a broader push into digital assets.
The firm, which manages more than $1.7 trillion in assets, said the combined operation will adopt the name Franklin Crypto once the transaction is completed. Financial terms of the deal were not disclosed.
Franklin Templeton said it will place industry veteran Christopher Perkins at the head of the new division, while Seth Ginns will take the role of chief investment officer. Both will report to Sandy Kaul, who serves as Franklin Templeton's head of innovation.
The announcement positions the purchase as an extension of the firm's prior work in blockchain and digital asset investing. Franklin Templeton described the acquired business as a complement to its existing crypto and blockchain venture investing capabilities and said the deal will expand its broader digital-assets investment platform.
Company commentary noted the transaction is expected to close in the second quarter of 2026 and remains subject to customary closing conditions, including client approvals.
The move comes as traditional financial firms increase their activity in cryptocurrencies, a trend the firm said has been supported by favorable policies under the Trump administration.
Separately, the material accompanying the announcement referenced an external investment research tool. That material stated that ProPicks AI evaluates BEN alongside thousands of other companies on a monthly basis using more than 100 financial metrics, and that the tool uses AI to screen for stocks based on fundamentals, momentum, and valuation. Specific historical performance examples cited included Super Micro Computer and AppLovin, and readers were invited to check whether BEN is included in any ProPicks AI strategies or to compare alternatives in the same sector.
Context and implications
Franklin Templeton's acquisition of 250 Digital formalizes a dedicated crypto investment arm under the Franklin Crypto name and signals a continued institutional effort to scale digital-asset capabilities within traditional asset managers. The transaction will fold into the firm's existing innovation and venture investing framework while expanding its product and platform reach in digital assets.