Franklin Templeton closes 250 Digital acquisition deal and sets up new Franklin Crypto division
Franklin Templeton has launched a new division called Franklin Crypto following its acquisition of 250 Digital. The unit will focus on providing institutional investors with actively managed cryptocurrency strategies.
Why it matters
The move signals continued institutional adoption of digital assets by major traditional financial firms, despite recent market volatility.
Franklin Templeton has established Franklin Crypto to offer institutional investors actively managed cryptocurrency strategies the asset manager said in a statement .
The report provides a straightforward account of a corporate acquisition and business expansion without taking a stance on crypto markets.
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