Bitwise Asset Management cuts 14% of workforce amid market downturn

Bitwise Asset Management has reduced its global workforce by 14%, bringing its total headcount to approximately 155 employees. CEO Hunter Horsley stated that the staff reduction was completed recently and is intended to position the company for continued growth as cryptocurrency integrates further into the global economy.

The layoffs follow a period of market volatility and a decline in assets under management. The Bitwise 10 Crypto Index Fund (BITW) saw its net assets fall significantly during the first half of 2026, with one report noting a 31% decline in the first seven months and another citing a 48.27% drop from $1.03 billion to $532.8 million in the first half of the year.

Despite the workforce reduction, Bitwise has been expanding its staking business. In February, the company acquired Chorus One, a move that added 50 technology professionals and over $2.2 billion in staked assets to its portfolio. While the index business has faced pressure, the company continues to launch new products, including a Hyperliquid exchange-traded fund.