Franklin Templeton buys crypto firm 250 Digital

Financial giant Franklin Templeton is set to acquire 250 Digital, a spinoff from venture firm CoinFund, to bolster its cryptocurrency investment services. The newly formed entity will be named Franklin Crypto, focusing on strategies tailored for institutional investors like pension funds and sovereign-wealth funds. This acquisition marks a significant step for Franklin Templeton, which already manages over $1.7 trillion in assets, in expanding its digital asset capabilities. The deal underscores the increasing interest from traditional finance players in the digital asset space and their efforts to cater to institutional demand.