Franklin Templeton to acquire crypto investment management firm
Franklin Templeton is acquiring cryptocurrency investment management firm 250 Digital for an undisclosed sum. The acquisition aims to expand Franklin Templeton's crypto and blockchain offerings to institutional investors, with the newly formed Franklin Crypto unit led by Christopher Perkins and Seth Ginns.
Franklin Templeton is buying 250 Digital, a crypto investment management firm. The deal includes 250 Digital's investment team and crypto strategies. Christopher Perkins will lead the new Franklin Crypto unit. The acquisition expands Franklin Templeton's crypto offerings to institutional investors. The company has been involved in crypto since 2018 and managed $1.8 billion in digital assets as of December 31. The deal is expected to close in the second quarter.
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