Franklin Templeton to Acquire CoinFund Spinoff for Institutional Crypto Push: WSJ

Franklin Templeton has agreed to acquire 250 Digital, a crypto investment firm originating from CoinFund, aiming to enhance its digital asset capabilities and establish a dedicated institutional crypto division called Franklin Crypto. This new unit will focus on serving pensions, sovereign wealth funds, and other large institutional investors seeking regulated exposure to digital assets. The acquisition reflects a continued trend of traditional financial institutions expanding into the crypto market, even amidst a prolonged downturn in digital asset valuations. Franklin Templeton, managing over $1.7 trillion in assets, entered the digital asset space in 2018 and is an early issuer of U.S. spot bitcoin ETFs. The deal brings in key crypto investment managers Christopher Perkins and Seth Ginns, and will focus on liquid token markets, venture exposure, and blockchain infrastructure-linked products. Despite recent market declines, institutional demand for bitcoin and crypto remains strong, driving firms like Franklin Templeton to build out their infrastructure and partnerships within the space.

(Source：Bitcoin Magazine)