Bitwise Asset Management cuts 14% of staff, reducing its team to 155 employees, as net assets in its flagship fund drop 31% in 2026.
Crypto asset manager Bitwise Asset Management trimmed its global headcount by 14% last week, leaving the firm with roughly 155 employees. CEO Hunter Horsley confirmed the reductions in a written statement, framing them as a calculated step rather than a sign of distress.
The company's flagship fund has faced meaningful pressure this year. Net assets in the Bitwise 10 Crypto Index Fund dropped 31% over the first seven months of 2026, according to data published by Bitwise.
Horsley said the workforce adjustment "equips us well for the ongoing growth we've seen this year and expect to continue as crypto further integrates into the global economy." He did not identify which teams or roles were affected.
Acquisitions Continue Despite Headcount Reduction
Even as staff numbers fell, Bitwise moved forward with its expansion strategy. The firm completed its purchase of Chorus One in February 2026, adding an institutional staking provider that extends its operations across more than 30 proof-of-stake blockchains.
Bitwise Chief Investment Officer Matt Hougan offered a relatively upbeat outlook for the market on Aug. 11. Speaking to Bloomberg, Hougan pointed to Bitcoin's ability to absorb negative news, including the delayed passage of the CLARITY Act and Strategy's decision to sell Bitcoin (BTC) holdings, as evidence the bear market may have reached its floor.
Hougan also named large wealth management platforms as the "quiet catalyst" of the next crypto bull run, though he gave no specific timeline for when that cycle might begin.
Related Article: Bitwise Pins Next Crypto Bull Market on Hyperliquid, Robinhood
Crypto Firms Cut Jobs Across the Industry
Bitwise's layoffs arrived in the middle of a broader pullback across the crypto industry. BitGo cut 15% of its workforce in June 2026, citing shifts in the ecosystem. Coinbase reduced staff by 14% in May 2026 as it moved toward AI-native operations and managed through a softer market. Polygon Labs announced a second round of job cuts in July 2026 as it worked to close its acquisition of Coinme and pivot toward payments.
Across all these firms, the pattern is consistent: sustained market weakness combined with rising adoption of AI-driven tools has pushed companies to operate with leaner teams heading into the second half of 2026.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Vortex, and Vortex is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Vortex is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Vortex of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of Vortex.
