The $1.7 trillion asset manager Franklin Templeton is establishing a new dedicated active crypto investment management arm through acquisition of 250 Digital.
Franklin Templeton has established Franklin Crypto to offer institutional investors actively managed cryptocurrency strategies the asset manager said in a statement.
The San Mateo, California-based asset manager first announced the acquisition and the new crypto division in April as part of its increasing push into digital assets. It has not disclosed financial terms of the deal
The new division will combine the investment capabilities of the former 250 Digital team with Franklin Templeton’s global distribution. Franklin Templeton will also invest its own capital into these liquid strategies as part of the closing agreement.
The new unit absorbs the entire 250 Digital investment team, alongside all liquid cryptocurrency strategies they previously ran under CoinFund, according to the statement.
Crypto industry veterans Christopher Perkins and Seth Ginns will co-lead the new division. Perkins will serve as Head of Franklin Crypto and Chief Investment Officer respectively.
Read More: Franklin Templeton proposes new ETFs that turn corporate dividends into bitcoin
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Source
This article is syndicated for educational reading. For the latest updates, visit the original publisher.
Read on coindesk.com
