Mutual fund giant Franklin Templeton has agreed to buy a small crypto investment firm, 250 Digital, which will join its newly established unit Franklin Crypto, as the firm deepens its digital assets push.

By bringing 250 in-house, Franklin Templeton hopes to be able to increase its actively managed crypto investment offerings for its institutional clients beyond basic exposure through products like its bitcoin ETFs. The firm manages $1.8 billion in global assets.

“Together, their investment talent and differentiated strategies strengthen our capabilities in digital assets and position us among a small group of global asset managers with a dedicated, institutional-grade crypto investment management…