Franklin Templeton acquires 250 Digital, a subsidiary of CoinFund, to grow its cryptocurrency investment offerings, Wall Street Journal I mentioned Wednesday. The unit’s leadership includes Chris Perkins, former managing partner and head of CoinFund, along with Seth Ginns, former managing partner and head of liquid investments.
Since entering the cryptocurrency space in 2018, Franklin Templeton has built a 50-person digital assets team. The acquisition aims to provide institutional investors with customized crypto strategies while complementing the company’s existing mutual fund business.
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