Bitwise Asset Management has cut 14% of its staff amid a crypto market downturn, while the company's CEO said the layoffs still position it well for growth.
Bitwise CEO Hunter Horsley told The Block in an emailed statement that the crypto asset manager trimmed its global team to around 155 last week.
Despite the job cuts, Horsley said the 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." The crypto asset manager's latest move came amid a prolonged downturn in the crypto market.
Its key product, the Bitwise 10 Crypto Index Fund (BITW), shows that its net assets dropped 31% in the first seven months of 2026.
Despite the market pressure, Bitwise has continued to pursue growth through strategic acquisitions.
