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
Franklin Templeton is extending a long-running institutional-crypto buildout rather than entering an untouched market: Fidelity previously established institutional custody and execution through Fidelity Digital Asset Services, while Coinbase later bought institutional-only manager One River. The earlier closure of Coinbase’s institutional index fund also shows that packaging digital assets for large investors has required a more durable operating model than simply launching a broad index product.
First-order effects
Franklin Templeton gains 250 Digital’s capabilities and forms Franklin Crypto, creating a dedicated unit to develop crypto strategies for institutional investors.
CoinFund’s spinoff becomes part of a much larger asset manager, shifting the product-development and client-distribution role to Franklin Templeton’s new crypto platform.
Second-order effects
Institutional crypto providers face a more established asset-management competitor that can combine specialist digital-asset expertise with an existing institutional-investor focus.
The deal reinforces demand for institutional-grade strategy and distribution capabilities, rather than undifferentiated crypto fund exposure—the tension visible when Coinbase shut its institutional index-fund effort while retaining a retail-oriented product.
Third-order effects
If comparable acquisitions continue, institutional crypto investing is likely to consolidate around large asset managers that buy specialist teams and integrate them into dedicated platforms.
The durable competitive boundary may move from access to crypto assets toward repeatable institutional product design, custody, execution, and distribution; the corpus does not establish which providers will lead that stack.
The trend: This is one data point in the institutionalization of crypto asset management, with incumbent financial firms using acquisitions and specialized units to serve large investors.
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…
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.
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
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.
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/...
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,
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
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!
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…
@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…
@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.