April 1 (Reuters) - Investment manager Franklin Templeton said on Wednesday it had agreed to acquire cryptocurrency investment unit 250 Digital, spun out of venture firm CoinFund, as it steps up its expansion into digital assets.
The deal comes as traditional financial firms ramp up their presence in cryptocurrencies, supported by favorable policies under the Trump administration.
Franklin Templeton, which manages more than $1.7 trillion in assets, has been among the early movers in exploring blockchain technology and digital asset investing.
Following completion of the transaction, the new crypto business will be called Franklin Crypto, the company said. Financial terms of the deal were not disclosed.
Financial industry veteran Christopher Perkins will head the division, while Seth Ginns will serve as chief investment officer. They will report to Sandy Kaul, Franklin Templeton's head of innovation.
The business will build on the firm's existing crypto and blockchain venture investing capabilities while expanding its broader digital assets investment platform.
The transaction is expected to close in the second quarter of 2026, subject to customary conditions, including client approvals.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Diti Pujara and Maju Samuel)
