Franklin Templeton announced the formation of a dedicated cryptocurrency division called Franklin Crypto, built around the acquisition of 250 Digital, an active crypto investment management firm spun out of CoinFund. The deal, expected to close in the second quarter of 2026, consolidates CoinFund’s liquid cryptocurrency strategies under one of the largest traditional asset managers in the world.

Christopher Perkins, CoinFund’s president and a co-host of Unchained’s Bits + Bips podcast, will lead Franklin Crypto. Seth Ginns, previously a portfolio manager at CoinFund, will serve as chief investment officer. They will work alongside Tony Pecore, a veteran of Franklin Templeton’s existing digital assets team. Perkins described the move as timely: “Crypto’s institutional moment has arrived, and Franklin Crypto will help our global clients navigate this complex and rapidly evolving asset class.”

Franklin Templeton’s digital assets division already manages approximately $1.8 billion in global assets, including blockchain venture capital products. The addition of 250 Digital’s active liquid strategies is designed to give institutional investors access to more actively managed crypto exposure beyond the firm’s existing index and ETF products.

This story is an excerpt from the Unchained Daily newsletter.

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One detail stands out in the deal structure: part of the acquisition price will be paid using BENJI tokens, which are tied to Franklin’s on-chain U.S. Government Money Fund. The arrangement represents one of the first instances of tokenized money market fund shares being used to settle a corporate acquisition.

The deal adds to a wave of traditional finance firms deepening their crypto commitments. Crypto-related mergers and acquisitions totaled $37 billion in 2025, and the pace has not slowed in 2026. For Franklin Templeton, the bet is that institutional demand for actively managed crypto products will grow as the asset class matures beyond passive bitcoin and ether exposure.

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