Bitwise cuts 14% of staff amid crypto downturn

Bitwise cut 14% of staff, reducing headcount to 155 amid a crypto downturn and falling fund assets. The company remains optimistic and continues expanding its staking business.

Bitwise Asset Management has reduced its workforce by 14%, lowering its headcount from around 180–200 to approximately 155 employees. This move comes amid a prolonged downturn in digital asset prices and a significant decline in the net assets of its flagship Bitwise 10 Crypto Index Fund, which dropped by 31–48% in the first half of 2026. Despite the layoffs, Bitwise’s leadership remains optimistic about future growth, emphasizing the ongoing integration of cryptocurrencies into the global economy. Earlier in February, Bitwise acquired staking firm Chorus One, adding 50 engineers and expanding its presence across more than 30 proof-of-stake networks. Currently, Bitwise manages over 70 products, including ETFs and private funds, with total assets under management of about $9 billion. The layoffs reflect a broader trend of cost optimization and consolidation in the crypto industry as market conditions remain challenging.