Franklin Templeton to Acquire CoinFund Crypto Spinoff, Accelerating Digital Asset Push

Franklin Templeton is strengthening its commitment to crypto with a recently announced acquisition.

Global asset manager Franklin Templeton is expanding its commitment to digital assets with the acquisition of a new crypto-focused spin-off from venture capital firm CoinFund. The move signals continued alignment between traditional finance and cryptocurrencies.

According to a WSJ exclusive, the deal centers on 250 Digital, a company spun off from CoinFund earlier this year. It is led by veteran crypto investors Christopher Perkins and Seth Ginns. Further details of the acquisition are yet to be provided.

Franklin Templeton, a recognized force in mutual fund and traditional portfolio management, has been growing its presence in the crypto industry since entering the market in 2018. What began as an experimental and exploratory move has undoubtedly evolved into a structured approach, with the company’s digital assets arm bringing together a team of more than 50 people – specialists focused on blockchain-based technologies, tokenized assets and crypto strategies.

Recall that the company launched EZBC – a spot Bitcoin ETF, which currently has more than $427 million in total assets under management.

With this in mind, the acquisition of 250 Digital reflects a broader strategic shift within large, traditional financial institutions, many of which appear to be looking for ways to integrate digital assets into their core offerings in the face of growing customer demand.