Franklin Templeton Completes Acquisition of 250 Digital and Establishes New Crypto Division, Franklin Crypto

Odaily reports that Franklin Templeton has announced the completion of its acquisition of 250 Digital, an active crypto investment management firm, and has established a new division named Franklin Crypto. The asset manager, which oversees $1.7 trillion in assets, did not disclose the financial terms of the deal. The new division aims to provide institutional investors with actively managed cryptocurrency strategies.

The new division will combine the investment capabilities of the former 250 Digital team with Franklin Templeton's global distribution channels. As part of the closing agreement, Franklin Templeton will also invest its own capital into these liquidity strategies. The new unit has absorbed the entire 250 Digital investment team, along with all the liquid crypto strategies previously operated under CoinFund. Crypto industry veterans Christopher Perkins and Seth Ginns will co-lead the new division. (CoinDesk)