Franklin Templeton Gets Serious About Crypto, Buys 250 Digital and Pays in BENJI Tokens

Franklin Templeton is launching a dedicated cryptocurrency division called Franklin Crypto, anchored by its planned acquisition of crypto investment firm 250 Digital. Because nothing says "we're serious about crypto" quite like launching a whole new division named after yourself while simultaneously buying someone else's homework.

The new unit will consolidate 250 Digital's liquid crypto strategies, formerly managed by CoinFund, under leadership from ex-CoinFund executives and Franklin Templeton's digital assets team to offer more active, institutional-focused crypto investments. Think of it as a corporate marriage where both parties bring their best stuff to the table, except the dowry is calculated in BTC exposure and the prenup involves SEC filings.

Former CoinFund executive Christopher Perkins will lead the division, with Seth Ginns serving as chief investment officer alongside Franklin Templeton digital assets executive Tony Pecore. The group will report to Sandy Kaul, the firm's head of innovation. That's a lot of heavy hitters in one room—someone get these degens a conference room with proper whiteboard space.

The move builds on Franklin Templeton's existing digital asset business, which manages about $1.8 billion, and signals a shift toward offering more active crypto investment strategies alongside its current products. $1.8 billion in assets under management is frankly not bad for a "we're just testing the waters" approach. Actually, it's kind of a lot.

"This is an exciting addition for Franklin Templeton," CEO Jenny Johnson said, adding that the deal strengthens the firm's ability to deliver dedicated crypto expertise to clients globally. Translation: "We saw BlackRock eating everyone's lunch in this space and decided to stop watching from the sidelines."

Perkins said the effort is aimed at meeting growing institutional demand. "Crypto's institutional moment has arrived," he said, pointing to growing interest from large investors seeking structured exposure to digital assets. The institutional moment has arrived approximately four years after Bitcoin hit $64k, but hey, better late than never.

Part of the acquisition will be paid using BENJI tokens tied to Franklin Templeton's on-chain U.S. Government Money Fund, signaling an experimental step toward using tokenized assets to settle mergers and acquisitions. That's right, they said "let's pay in our own tokens" and somehow it wasn't a rug pull. The fund uses blockchain infrastructure to process transactions and record ownership, because apparently traditional banking apps just aren't exciting enough anymore.

The deal is expected