Franklin Templeton to acquire CoinFund spin-off 250 Digital

Global asset manager Franklin Templeton is acquiring 250 Digital, a subsidiary spun off from CoinFund, to expand its cryptocurrency business, The Wall Street Journal (WSJ) reported. Following the acquisition, 250 Digital will be rebranded as "Franklin Crypto" and will provide investment strategies for institutional clients such as pension funds and sovereign wealth funds. The specific terms and size of the deal were not disclosed. Franklin Templeton has been involved in the cryptocurrency sector since 2018 and reportedly operates a dedicated team of over 50 people.