Franklin Templeton closes 250 Digital acquisition deal and sets up new Franklin Crypto division
The $1.7 trillion asset manager did not disclose the amount paid for the acquisition of 250 Digital but revealed its plans for a new corporate division exclusively for crypto investments.
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Summary
- Franklin Templeton has closed its acquisition of active crypto investment manager 250 Digital and created a new division called Franklin Crypto.
- The new unit will combine 250 Digital’s investment team and liquid cryptocurrency strategies with Franklin Templeton’s global distribution, and the firm will invest its own capital into these strategies.
- Crypto industry veterans Christopher Perkins and Seth Ginns will co-lead Franklin Crypto, with Perkins serving as head of the division and chief investment officer.
