Key facts
- Franklin Templeton has acquired crypto investment firm 250 Digital.
- A new institutional crypto division, Franklin Crypto, has been launched.
- The division will offer actively managed digital asset strategies to institutional investors.
- Franklin Templeton's tokenized assets have grown to over $2.5 billion.
- The acquisition process involved BENJI tokens, representing shares of a money market fund.
Global asset manager Franklin Templeton has finalized its acquisition of crypto investment firm 250 Digital, establishing a new standalone division named Franklin Crypto. This move integrates 250 Digital's team and its actively managed liquid cryptocurrency strategies, which will now be offered to institutional investors such as pension funds and sovereign wealth funds. The acquisition marks a significant expansion of Franklin Templeton's digital asset capabilities beyond its previous focus on tokenization and passive products. The firm manages approximately $1.78 trillion in assets across more than 35 countries and has been building digital asset infrastructure since 2018. Franklin Templeton has also recently engaged in other digital asset initiatives, including partnerships with Binance and Ondo Finance. The company's tokenized assets have seen substantial growth, tripling over the past year to exceed $2.5 billion. Notably, the acquisition process utilized BENJI tokens, representing shares of a regulated money market product, marking one of the first major financial-services acquisitions settled partly with tokenized fund shares.