Global asset manager Franklin Templeton is expanding its commitment to digital assets with the acquisition of a newly formed crypto-oriented spinoff from venture firm CoinFund. The move signals continued alignment between traditional finance and cryptocurrencies.
According to a WSJ exclusive, the deal is centered on 250 Digital, a firm that was spun out of CoinFund earlier this year. It’s led by veteran crypto investors Christopher Perkins and Seth Ginns. Further details on the acquistion are yet to be brought forward.
Franklin Templeton, a well-recognized force in mutual funds and traditional portfolio management, has been building its presence in the crypto industry since entering the market all the way back in 2018. What started as an experimental and exploratory move has undoubtedly evolved into a structured approach, with the firm’s digital asset arm assembling a team of more than 50 people – specialists, focused on blockchain-based technologies, tokenized assets, and crypto strategies.
Recall that the firm launched EZBC – a spot Bitcoin ETF, which currently boasts over $427 million in total assets under management.
With that in mind, the acquisition of 250 Digital reflects a broader strategic shift amid major legacy finance institutions, many of which seem to be looking for ways to integrate digital assets into their core offerings amid growing client demand.
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