Franklin Templeton to acquire CoinFund spinoff to expand crypto push

April 1 (Reuters) - Investment ‌manager Franklin ​Templeton ​said on Wednesday it had agreed to acquire cryptocurrency investment unit ‌250 Digital, spun out of venture firm ⁠CoinFund, as it steps up its expansion into ‌digital assets.

The deal comes ‌as traditional financial firms ramp up their presence in cryptocurrencies, supported by favorable policies ​under the Trump administration.

Franklin Templeton, which manages more than $1.7 trillion in assets, has ⁠been among the early movers in exploring blockchain technology and ​digital asset investing.

Following completion of the transaction, the new crypto business will ​be called Franklin Crypto, the ‌company said. Financial terms of the deal were not disclosed.

Financial industry ⁠veteran Christopher Perkins will head the division, while Seth Ginns will serve as chief investment ⁠officer. They will report to Sandy Kaul, Franklin Templeton's ​head of innovation.

The business will build on the firm's existing crypto and blockchain venture investing capabilities while ‌expanding its broader digital assets investment platform.

The transaction is expected to ‌close in the second quarter of 2026, ⁠subject to customary ‌conditions, including client ​approvals.

(Reporting by Prakhar Srivastava in Bengaluru; Editing by Diti Pujara and Maju ‌Samuel)

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