Franklin Templeton to acquire CoinFund spinoff to expand crypto push

Investment manager Franklin Templeton said on Wednesday it had agreed to acquire cryptocurrency investment unit 250 Digital, spun out of venture firm CoinFund, as it steps up its expansion into ‌digital ⁠assets.

The deal ⁠comes as traditional financial firms ramp up ​their presence in cryptocurrencies, supported by favorable policies under ​the Trump administration.

Franklin Templeton, which manages more than $1.7 trillion in assets, has been among the early movers ⁠in exploring ‌blockchain technology and digital asset investing.