Franklin Templeton has agreed to acquire 250 Digital, a crypto investment firm spun out of venture capital firm CoinFund, to create a dedicated institutional crypto division called Franklin Crypto, targeting pensions, sovereign wealth funds, and large institutional investors seeking regulated exposure to digital assets.
The transaction, expected to close in the second quarter of 2026, will bring senior crypto investment managers Christopher Perkins and Seth Ginns into the Franklin structure and use BENJI tokens as payment consideration, marking an innovative step toward conducting mergers and acquisitions on-chain.
Acquisition Strengthens Franklin Templeton’s Digital Asset Capabilities
Franklin Templeton, which manages more than $1.7 trillion in assets, entered digital assets in 2018 and has built a team of more than 50 professionals across investment and technology roles. The firm was among the earliest issuers of US spot bitcoin exchange-traded funds launched in 2024 and currently manages approximately $1.8 billion in global digital assets as of December 31, 2025.
The acquisition of 250 Digital brings two senior crypto investment managers into the Franklin structure. Christopher Perkins will head the new Franklin Crypto division, and Seth Ginns will serve as Chief Investment Officer, alongside Franklin Templeton Digital Assets investment veteran Tony Pecore. The team will report to Sandy Kaul, Head of Innovation for Franklin Templeton.
Franklin Templeton CEO Jenny Johnson stated that the acquisition strengthens the firm’s capabilities in digital assets and positions it among a small group of global asset managers with a dedicated, institutional-grade crypto investment management team. Perkins said crypto’s institutional moment has arrived, and Franklin Crypto will help global clients navigate the complex asset class by delivering expertise and digital asset products that meet sophisticated investment needs.
Franklin Crypto to Offer Liquid Token Markets, Venture Exposure, and Structured Products
The new Franklin Crypto division will focus on portfolio construction for institutional capital, including liquid token markets, venture exposure, and structured products tied to blockchain infrastructure. The strategy builds on Franklin Templeton’s existing crypto and blockchain venture capital offerings and expands the firm’s broader digital assets investment platform.
The division will target pensions, sovereign wealth funds, and large institutional investors seeking exposure to digital assets through regulated investment structures. Franklin Templeton has expanded partnerships with digital asset firms to support tokenized products, including a partnership with Binance enabling use of tokenized fund shares as collateral for trading activity.
Franklin Templeton head of innovation Sandy Kaul said market conditions in digital assets opened a path for talent acquisition and platform expansion, describing a shift in institutional demand patterns and noting that the firm views the current environment as a point for structural buildout.
BENJI Tokens Used as Payment Consideration in On-Chain M&A Transaction
The transaction will incorporate BENJI tokens as payment consideration, marking an important and innovative step toward conducting mergers and acquisitions on-chain. The Franklin OnChain US Government Money Fund (FOBXX), known as BENJI, launched in 2021 and is the world’s first US-registered mutual fund to use blockchain-integrated technology to process transactions and record share ownership.
The acquisition aligns with a broader trend among global asset managers entering crypto markets through exchange-traded products, custody partnerships, and pilot tokenization projects. Despite a prolonged drawdown in digital asset valuations—with Bitcoin declining from highs above $126,000 to levels near half that value—institutional participation has not retreated at the same pace. Large asset managers continue to file for new products, expand custody relationships, and develop tokenization systems connecting traditional securities with blockchain rails.
The transaction is subject to execution of definitive transaction agreements, client consents, and other customary closing conditions. Financial terms of the deal were not disclosed.
FAQ
What is Franklin Templeton acquiring and what will the new division be called?
Franklin Templeton has agreed to acquire 250 Digital, a crypto investment firm spun out of CoinFund, and will launch a new institutional crypto division called Franklin Crypto. The division will target pensions, sovereign wealth funds, and large institutional investors.
Who will lead Franklin Crypto?
Christopher Perkins will head the Franklin Crypto division, with Seth Ginns serving as Chief Investment Officer. Both previously worked at CoinFund before the spinout and have experience in institutional investment and digital asset markets. They will report to Sandy Kaul, Franklin Templeton’s Head of Innovation.
What makes this acquisition notable from a technology perspective?
The transaction will use BENJI tokens as payment consideration, marking an innovative step toward conducting mergers and acquisitions on-chain. BENJI is the token representing the Franklin OnChain US Government Money Fund (FOBXX), the world’s first US-registered mutual fund to use blockchain-integrated technology for transaction processing and share ownership recording.
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