- Bitwise cut 14% of its workforce, reducing its global team to about 155 employees.
- BITW net assets fell 31% during the first seven months of 2026.
- Bitwise continues acquisitions and investment product expansion despite weaker crypto markets.
Bitwise Asset Management has reduced its workforce by 14% as the crypto market downturn pressures digital asset firms. The Bitwise layoffs cut the global team to about 155 employees last week, CEO Hunter Horsley confirmed. Horsley said the smaller structure still supports the company’s growth plans. The firm continues expanding products and institutional services despite weaker market conditions.
Bitwise Layoffs Reduce Global Team to About 155 Employees
The Bitwise layoffs follow a difficult period for several crypto investment products. BITW, the Bitwise 10 Crypto Index Fund, saw net assets fall 31% during 2026’s first seven months.
Despite that decline, Bitwise has continued expanding its business. The company completed its Chorus One acquisition in February, adding institutional staking services across more proof-of-stake networks.
The asset manager also reported demand for selected exchange-traded products. Its Hyperliquid ETF recorded about $19 million in one-day inflows during May. Horsley also said Bitwise XRP products in the United States and Europe attracted over $200 million this year.
The Bitwise layoffs therefore come alongside continued product development and acquisitions. Horsley said the workforce reduction better matches the company’s current operating needs.
Crypto Layoffs Continue as Firms Adjust Costs and Operations
The Bitwise layoffs add to a wider round of crypto layoffs during 2026. Coinbase cut 14% of its workforce in May while increasing its use of artificial intelligence.
BitGo reduced staff by about 15% in June. Kraken reportedly cut around 150 positions, while Dune Analytics reduced its workforce by 25%.
Polygon Labs also announced another workforce reduction in July while shifting more resources toward payments. Several firms linked restructuring decisions to weaker markets and greater use of AI tools.
The Bitwise layoffs arrived as Chief Investment Officer Matt Hougan pointed to firmer Bitcoin price behavior. Hougan said Bitcoin held up despite the CLARITY Act delay and recent Strategy BTC sales.
He also said large wealth management platforms could become a “quiet catalyst” for another crypto market advance. Bitwise continues operating funds, staking services, and exchange-traded products with its smaller global team.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
