Franklin Templeton Launches Active Crypto Unit via 250 Digital Acquisition
Franklin Templeton, a $1.7 trillion asset manager, has closed its acquisition of 250 Digital, an active crypto investment manager, and formed a new division called Franklin Crypto. The new unit combines 250 Digital's investment team and liquid cryptocurrency strategies with Franklin Templeton's global distribution network. As part of the deal, Franklin Templeton will invest its own capital into these strategies. The division is led by crypto industry veterans Christopher Perkins as Head and CIO, along with Seth Ginns. The acquisition was first announced in April, with terms undisclosed. This move underscores Franklin Templeton's increasing focus on digital assets, following its proposal for ETFs that convert corporate dividends into bitcoin.
Key facts
- Franklin Templeton acquires 250 Digital, creates Franklin Crypto division.
- New unit combines 250 Digital's team with global distribution.
- Franklin Templeton invests its own capital into the crypto strategies.
- Led by Christopher Perkins as Head and CIO, and Seth Ginns.
- Part of Franklin Templeton's broader push into digital assets.