Bitwise Asset Management has cut about 14% of its workforce, reducing headcount to roughly 155 from around 180 as the crypto-focused manager contends with a sharp retreat in assets.
Bloomberg reported that Bitwise confirmed the reduction in an emailed statement. The reported totals amount to roughly 25 positions. Bloomberg's report did not specify which functions were affected.
The cuts reverse part of a rapid hiring cycle. In August 2025, Bitwise said it had 108 employees and more than 40 investment products. Its workforce had climbed to around 180 before the latest reduction.
Bitwise now lists $9 billion in client assets across more than 70 products, down from the more than $15 billion it announced nearly a year earlier. The comparison shows that the firm's product lineup and headcount expanded after August 2025 even as its asset base later contracted.
The decline is also visible in the Bitwise 10 Crypto Index ETF. The fund ended June with $532.8 million in net assets, down from $1.03 billion at the end of 2025, according to a Form 10-Q filed with the U.S. Securities and Exchange Commission.
