Franklin Crypto’s Leadership Takes Shape
Franklin Templeton is making a calculated move into the digital asset space by launching Franklin Crypto, a new division focused exclusively on cryptocurrency investment management.
This leadership structure brings together veterans from both traditional finance and crypto-native backgrounds, aiming to bridge institutional standards with digital asset expertise. With more than 50 professionals already working on blockchain and tokenized instruments at Franklin Templeton since its entry into digital assets in 2018, the firm is positioning itself to serve large investors such as pensions and sovereign wealth funds.
Christopher Perkins, who previously held a senior role at CoinFund, will serve as head of Franklin Crypto.
BENJI Tokens Power Acquisition Deal
A unique aspect of this acquisition is the use of BENJI tokens as part of the payment consideration. These tokens represent ownership shares in the Franklin OnChain U.S. Government Money Fund (FOBXX), which was first tokenized by Franklin Templeton in 2021. Part of the deal’s value will be settled using these on-chain assets rather than only traditional cash or equity methods.
The BENJI token not only reflects Franklin Templeton’s commitment to blockchain infrastructure but also signals a willingness to use its own tokenized products in strategic transactions. In 2024, access to BENJI expanded beyond Stellar and Ethereum to include Solana, Base, and Arbitrum networks—demonstrating a multi-chain approach that could appeal to institutional clients seeking flexibility and transparency.
It’s unclear how much of the acquisition price will be paid in BENJI tokens versus other forms of consideration.
CoinFund’s Team Joins Wall Street Giant
The entire 250 Digital investment team—previously responsible for managing liquid crypto strategies at CoinFund—will transition to Franklin Templeton as part of this deal. Their expertise includes navigating volatile crypto markets and developing investment strategies that target liquid assets like Bitcoin and Ethereum. This integration means that all existing liquid crypto strategies run by 250 Digital will now fall under the Franklin Crypto umbrella.
On paper, it’s a straightforward talent acquisition; but merging teams from independent crypto-native firms into a legacy financial institution isn’t always seamless. Still, with $1.8 billion already managed in Franklin Templeton’s existing digital asset business as of early 2024, the company has some experience onboarding new teams and products in this sector.
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Franklin Templeton Eyes Institutional Crypto
The new division is designed to cater specifically to institutional investors—a segment that includes pensions, sovereign wealth funds, and other large entities with rigorous compliance needs. According to bitcoinmagazine.com, Franklin Templeton manages over $1.7 trillion in total assets globally, giving it significant reach among these clients.
Franklin Crypto aims to provide these investors with exposure to liquid digital assets through regulated channels. The firm launched its US-listed spot Bitcoin ETF in early 2024, joining other major asset managers bringing crypto products to mainstream markets. By leveraging both its ETF experience and the newly acquired strategies from 250 Digital, Franklin Templeton hopes to capture a larger share of institutional capital flowing into cryptocurrencies.
Despite these ambitions, details about how institutional clients are responding remain uncertain until after regulatory approvals are secured.
All Eyes on 2026 Closing Date
While Franklin Templeton announced its intent to acquire 250 Digital and launch Franklin Crypto now, the transaction isn’t expected to close until the second quarter of 2026. This extended timeline is due to required client consents, regulatory approvals, and other closing conditions typical for acquisitions involving regulated investment firms and novel payment mechanisms like BENJI tokens.
Financial specifics remain undisclosed for now. However, with $1.8 billion already managed in digital assets by Franklin Templeton’s current team—and an industry-wide push toward tokenization—the finalization of this deal could mark one of the largest integrations between Wall Street and native crypto talent seen so far.
For now, the market will be watching how these two worlds come together—with an official closing date still more than two years away.
Next steps
The acquisition of 250 Digital by Franklin Templeton is expected to close in the second quarter of 2026, subject to regulatory approvals and other conditions; if the deal fails to secure these approvals by that time, the integration of 250 Digital’s team and strategies into Franklin Crypto will not proceed as planned.
