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Bitwise cuts 14% of staff to about 155 amid crypto slump
The cuts reduce Bitwise’s workforce to about 155, while the firm continues to manage about $9 billion across more than 70 products, including a $2.3 billion spot Bitcoin ETF.
Bitwise Asset Management has cut about 14% of its workforce, bringing headcount to roughly 155 from around 180, the firm confirmed to Bloomberg, citing the ongoing crypto downturn.
CEO Hunter Horsley said the remaining workforce is still the largest in Bitwise’s eight-year history and that he expects the company to keep growing even as crypto becomes absorbed into the wider economy, according to the report.
Bitwise said it manages about $9 billion in client assets across more than 70 investment products, including a spot Bitcoin ETF with about $2.3 billion in assets, and exposure spanning Bitcoin and other ETFs, separately managed accounts, private funds, hedge fund strategies, and staking.
The layoffs follow a broader pattern of staffing reductions across the crypto industry, including Coinbase’s 14% cut earlier in the year, with other firms shutting down or winding operations as spot Bitcoin ETF assets have concentrated at major issuers.
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