Franklin Templeton closes its acquisition of 250 Digital and announces a new corporate division focused on crypto investments. CoinDesk reports that the asset manager, which oversees about $1.7 trillion in assets, does not disclose the purchase price for 250 Digital, but it outlines plans to create a dedicated unit for crypto. Cointelegraph adds that the launch follows the growth of Franklin Templeton’s tokenization and onchain efforts. It says the firm’s onchain product suite expands from roughly $768 million to more than $2.5 billion over the past year. The new division, referred to as “Franklin Crypto,” is positioned as a dedicated structure for managing and investing in crypto-related activities. Across the two outlets, the key points are that the acquisition is completed, a new crypto-only division is established, and Franklin Templeton highlights acceleration in its onchain and tokenized-asset offerings over the past year. Both sources emphasize the organizational change rather than specific terms of the acquisition, with the acquisition cost not publicly detailed.