Franklin Templeton announced on April 1, 2026 that it plans to acquire 250 Digital, an active cryptocurrency investment manager, and launch a dedicated institutional crypto unit called Franklin Crypto. The acquisition brings in the full 250 Digital team and all liquid cryptocurrency strategies previously operated by CoinFund.
The transaction includes the 250 Digital investment team led by Christopher Perkins and Seth Ginns of CoinFund Management LLC, according to Franklin Templeton's official press release. Franklin Templeton said it will also invest directly in those strategies as part of the arrangement.
Following the close, Perkins will head Franklin Crypto, Ginns will serve as chief investment officer, and Tony Pecore will co-lead the new unit. All three come from CoinFund Management LLC.
BENJI Tokens as Deal Consideration
The deal is expected to close in Q2 2026 and will incorporate BENJI tokens as part of the payment consideration. BENJI represents shares of the Franklin OnChain U.S. Government Money Fund (FOBXX), a U.S.-registered mutual fund that uses public-blockchain infrastructure.
The BENJI token currently holds approximately $1.02 billion in total asset value with 1,095 holders and a 7-day APY of 3.00%. Using a tokenized money market fund as acquisition consideration puts Franklin Templeton's own real-world asset product at the center of the deal mechanics, a move that stands out even as crypto market infrastructure continues to evolve with operational changes across exchanges and networks.
The deal value and exact composition of BENJI-token consideration have not been disclosed. The specific CoinFund liquid strategies transferring into Franklin Crypto have also not been identified in available filings. The transaction remains subject to definitive agreements, client consents, and customary closing conditions.
Why Franklin's New Crypto Institutional Unit Matters
Franklin Templeton Digital Assets already manages approximately $1.8 billion in global assets as of December 31, 2025. The parent company, Franklin Resources, reported preliminary total assets under management of $1.74 trillion at the end of February 2026.
TLDR KEYPOINTS
- Franklin Templeton plans to acquire 250 Digital and launch Franklin Crypto, a new institutional digital asset unit led by Christopher Perkins and Seth Ginns.
- The deal includes all liquid crypto strategies previously run by CoinFund, with BENJI tokens (backed by the $1.02 billion FOBXX fund) forming part of the payment.
- Franklin Templeton Digital Assets already manages $1.8 billion, and the transaction is expected to close in Q2 2026.
Creating a purpose-built institutional crypto unit signals that the firm views digital asset management as a distinct business line, not merely a feature bolted onto existing products. The acquisition-plus-launch structure brings in a crypto-native team rather than building capabilities internally from scratch.
The move comes amid broader institutional interest in digital assets. Traditional asset managers have been expanding crypto offerings, with vehicles like spot Bitcoin ETFs seeing sustained inflows throughout early 2026. Franklin Templeton is positioning itself to compete directly for institutional crypto mandates through active management rather than passive exposure alone.
What the Acquisition Could Signal for Traditional Finance
A $1.74 trillion asset manager building a dedicated crypto arm through acquisition may reflect a broader pattern among traditional finance firms choosing to buy rather than build digital asset capabilities. The speed of market evolution in crypto often makes organic buildout slower than acquiring teams with established track records.
The use of BENJI tokens as deal consideration could signal growing confidence in tokenized real-world assets as legitimate settlement instruments. If the transaction closes as planned, it would represent one of the more prominent examples of a major financial institution using its own tokenized product in an M&A context.
As traditional asset managers evaluate how to navigate shifting financial leadership and regulatory landscapes, Franklin Templeton's planned acquisition of 250 Digital is a concrete bet that institutional demand for actively managed crypto strategies will grow large enough to justify a standalone business unit.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.