Franklin Templeton has agreed to acquire 250 Digital, a crypto investment firm formed from CoinFund, according to Wall Street Journal reporting. The goal with this acquisition is to improve its digital asset strategy and create a dedicated institutional crypto division.

The deal sets the foundation for a new business line called Franklin Crypto. The unit targets pensions, sovereign wealth funds, and large institutional investors seeking exposure to digital assets through regulated investment structures.

Terms of the transaction remain undisclosed. The acquisition reflects continued expansion by traditional financial institutions into crypto markets despite a prolonged drawdown in…

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