Wall Street asset management giant Franklin Templeton is launching a dedicated cryptocurrency division as it deepens its push into digital assets, anchored by a planned acquisition of crypto investment firm 250 Digital.

The new unit, called Franklin Crypto, will bring together the 250 Digital team and its liquid crypto strategies — previously managed by CoinFund — under one structure aimed at institutional investors, the firm said Wednesday.

Former CoinFund executive Christopher Perkins will lead the division, with Seth Ginns serving as chief investment officer alongside Franklin Templeton digital assets executive Tony Pecore. The group will report to Sandy Kaul, the firm’s head of innovation.

The move builds on Franklin…