Franklin Templeton agrees to acquire CoinFund spinoff 250 Digital to form Franklin Crypto, which will offer strategies designed for institutional investors
Money manager's crypto investment unit will offer strategies designed for institutional investors
Wall Street JournalVicky Ge Huang
Context & Ripple Effects
Institutional crypto offerings have long taken different forms in the coverage: Fidelity built a dedicated business for custody and trade execution, while Coinbase withdrew an earlier institutional index fund. Franklin Templeton’s move is a renewed asset-management-led push, using an acquisition to assemble a dedicated crypto unit rather than simply distribute a product.
The deal also follows Coinbase’s acquisition of institutional-only manager One River, underscoring that established financial firms and crypto platforms have both used M&A to add specialist institutional capabilities.
First-order effects
Franklin Templeton gains 250 Digital and will organize the business as Franklin Crypto, giving institutional clients a named unit focused on crypto strategies.
CoinFund’s spinoff moves under a large asset manager, changing 250 Digital from an affiliated specialist into part of Franklin Templeton’s institutional offering.
Second-order effects
Asset managers and crypto-native firms serving institutions face stronger pressure to combine investment products with the operational capabilities institutions expect; Fidelity’s earlier dedicated digital-asset custody and execution business illustrates the broader competitive benchmark.
Specialist crypto managers may become more attractive acquisition or partnership targets as larger firms seek faster routes into institutional crypto strategies than building every capability internally.
Third-order effects
If such acquisitions continue, institutional crypto investing is likely to consolidate around branded platforms inside established asset managers and large crypto intermediaries, rather than stand-alone niche funds.
The pattern suggests competition will increasingly turn on institutional distribution and integrated service breadth, though the coverage does not establish how quickly client demand will shift toward these consolidated providers.
The trend: Crypto investing is evolving from isolated institutional products into dedicated, acquisition-built business lines within mainstream asset-management and financial-services firms.
Today, we launched Franklin Crypto: a new dedicated, institutional-grade crypto investment management unit. Industry veterans Chris Perkins and Seth Ginns will co-lead Franklin Crypto alongside @FTI_Global's Tony Pecore. To expand our existing suite of actively managed crypto [vi…
So the most forward-looking tradfi institutions are snatching top crypto teams and you're still bearish, anon? Congrats @perkinscr97 @sethginns and the whole CoinFund liquid strategies team. One of the best in the industry in an area that will explode in growth.
Franklin Templeton isn't just acquiring a CoinFund spinoff, it's launching Franklin Crypto: • Building an end-to-end crypto asset management platform across VC, liquid strategies, and global distribution • Scaling active management • Using BENJI tokens for deal consideration,
Congrats @coinfund Now backed by a renowned @FTI_Global and a sizable balance sheet Great way to be positioned for the ‘end of crypto winter’ ❄️ @sethginns @perkinscr97 Some news on convergence between tradfi and crypto: https://www.wsj.com/...
Pretty huge to see Franklin Templeton doubling down on crypto, acquiring the CoinFund spinoff and bringing the managing partners @perkinscr97 & @sethginns on board. TradFi continues to tap into crypto. Crypto continues to tap into TradFi. Expect this convergence to continue
Congrats to @sethginns, @perkinscr97, and the entire liquid team on their next chapter. CoinFund remains an independent venture firm with a 10+ year track record of backing the best founders building on decentralized networks. We are grateful to everyone who has helped drive our
Congratulations to @perkinscr97 and @sethginns on this exciting announcement. Expect to see a lot more headlines like this as digital assets are brought into the regulatory fold. CLARITY would supercharge this.
@FTI_Global “This is an exciting addition for Franklin Templeton, and we're pleased to welcome Chris (@PerkinsCr97), and Seth @SethGinns and the 250 Digital team to our firm,” said Jenny Johnson, CEO of Franklin Templeton. “Together, their investment talent and differentiated str…
Today, I'm very excited to announce that I will be joining @FTI_Global as the head of Franklin Crypto. The convergence of traditional finance (TradFi) and the digital asset ecosystem is no longer a “future” trend—it is the reality of 2026. As I prepare to step into my new role [i…
@coinfund remains independent, venture-focused, and fully committed to writing checks to top founders in crypto. Congrats to Chris and Seth on this exciting next move.
JUST IN: Franklin Templeton acquires 250 Digital to launch Franklin Crypto, co-led by Chris Perkins (@perkinscr97) & Seth Ginns (@sethginns). Significant move as traditional finance expands further into digital assets. Huge congratulations to both teams!