USDFranklin Templeton to Acquire 250 Digital, Launch Franklin Crypto Division
Asset manager integrates CoinFund spinoff strategies using BENJI token settlement
TL;DR
- Franklin Templeton agreed to acquire 250 Digital and launch Franklin Crypto with institutional focus
- Deal uses BENJI tokens tied to a blockchain-based mutual fund, with closing expected in Q2 2026
- Firm reported $1.8 billion in digital assets and over $1.7 trillion total AUM
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Franklin Templeton said April 1, 2026, it agreed to acquire 250 Digital, a liquid crypto investment business spun out from CoinFund, and will use the deal to establish a new division called Franklin Crypto. The transaction includes the full investment team and all liquid cryptocurrency strategies previously managed under the 250 Digital platform, with Franklin Templeton also committing capital into those strategies as part of the agreement.
Franklin Crypto will be led by Christopher Perkins as division head and Seth Ginns as chief investment officer, alongside Tony Pecore, with the unit reporting to Sandy Kaul, head of innovation at Franklin Templeton. The firm said the platform is designed to deliver institutional-grade crypto investment strategies and products to global clients, expanding its capabilities beyond existing digital asset offerings.
The acquisition is expected to close in the second quarter of 2026, subject to definitive agreements, client consents, and customary closing conditions. Financial terms were not disclosed, but Franklin Templeton confirmed that BENJI tokens will be used as payment consideration, marking one of the first known uses of tokenized assets in a corporate acquisition transaction.
BENJI represents ownership shares in the Franklin OnChain U.S. Government Money Fund, also known as FOBXX, which launched in 2021 and is described as the first U.S.-registered mutual fund to use blockchain technology to process transactions and record share ownership. The firm said the use of BENJI in the deal represents “an important and innovative step toward conducting M&A transactions on chain.”
Franklin Templeton reported approximately $1.8 billion in global digital asset assets under management as of Dec. 31, 2025, while the broader firm held more than $1.7 trillion in total assets under management as of Feb. 28, 2026. The company said Franklin Crypto will expand its crypto and blockchain venture capital investments and broaden its overall digital asset investment management platform.
Chief executive Jenny Johnson said, “This is an exciting addition for Franklin Templeton, and we’re pleased to welcome Chris, Seth and the 250 Digital team to our firm,” adding that their “investment talent and differentiated strategies” strengthen the firm’s digital asset capabilities and position it among global asset managers with dedicated crypto investment teams.
Christopher Perkins said, “Crypto’s institutional moment has arrived, and Franklin Crypto will help our global clients navigate this complex and rapidly evolving asset class by delivering the expertise, knowledge and digital asset products that meet their sophisticated investment needs,” and added the goal is to establish the division as “the global leader in digital asset management.”
Seth Ginns said the team is joining “an early mover and clear leader in the crypto ecosystem,” and noted that combining Franklin Templeton’s global distribution network with crypto-native investment strategies is expected to support broader adoption of digital asset products.
Sandy Kaul said the timing of the acquisition followed a market downturn, stating the environment created a “very unique opportunity” and helped the firm decide “that this is the right time to pull the trigger,” as Bitcoin traded about 45% below its October 2025 peak during the period referenced.
Franklin Templeton said it has been active in digital asset investing since 2018 and has expanded its blockchain strategy through products including spot Bitcoin and Ethereum exchange-traded funds and tokenized fund offerings. The firm also referenced collaboration with Ondo Finance to develop tokenized versions of five exchange-traded funds and the expansion of BENJI across multiple blockchain networks including Ethereum, Solana, Base, and Arbitrum.
Shares of Franklin Resources rose as much as 1.5% in premarket trading following the announcement. The company did not provide additional financial details related to the acquisition or projected capital allocation tied to the Franklin Crypto division.
This article has been refined and enhanced by ChatGPT.
