Bitwise Asset Management has cut about 14% of its workforce, to around 155 from roughly 180, Bloomberg reported on 11 Aug. The San Francisco-based firm confirmed the reduction in an emailed statement to the news outlet. Bitwise did not immediately respond to questions from Sandmark.
Bitwise Cuts 14% of Staff as Retail Money Leaves Crypto: Bloomberg
12 August 2026 - 07:22 UTC
The digital-asset manager oversees more than 70 products and about $9bn in assets, according to its website, including a $2.3bn Bitcoin ETF. Bitcoin (BTC) has fallen about 50% from its October record to around $64,000, shrinking the fee base of managers paid on assets.
CEO Hunter Horsley said Bitwise's workforce remains the largest in its eight-year history even after the cuts, and that he expects growth to continue as crypto integrates further into the global economy.
Coinbase and crypto brokerage FalconX have also cut staff, and exchange BitMEX is shutting down. Retail money has moved towards sports-gambling sites and AI stocks, Bloomberg said.
