Franklin Templeton acquires crypto asset manager 250 Digital

Global asset manager Franklin Templeton announced it has completed its acquisition of crypto asset manager 250 Digital. The transaction includes all of 250 Digital's employees and a liquidity-focused crypto investment strategy previously managed by CoinFund. Franklin Templeton also plans to invest in related products. In conjunction with the acquisition, Franklin Templeton has launched Franklin Crypto, a new digital asset management unit for institutional investors. Leveraging the firm's existing digital asset research and risk management framework, Franklin Crypto will provide active cryptocurrency investment strategies for institutional clients.