San Francisco-based crypto asset manager Bitwise Asset Management has trimmed roughly 14 percent of its global staff, bringing its headcount down from approximately 180 employees to around 155. The company confirmed the reduction in an emailed statement, noting that the changes took place during an extended period of soft digital asset prices.
The firm, which has been operating for about eight years, described the move as an adjustment made in response to ongoing market conditions.
Despite the smaller team size, leadership emphasized that the remaining workforce still represents the largest staffing level in the company’s history.
Bitwise currently oversees more than 70 investment products, spanning exchange-traded funds, private funds, and separately managed accounts.
Its Bitcoin ETF accounts for roughly $2.3 billion of the firm’s approximately $9 billion in total assets under management.
Chief Executive Officer Hunter Horsley stated that the staffing change positions the company effectively for continued expansion.
He pointed to growth already observed this year and expressed optimism that further integration of cryptocurrency into the broader global economy would support ongoing business development.
Horsley framed the reduction as a step that equips Bitwise to navigate current pressures while remaining prepared for longer-term opportunities in the sector.
The decision arrives against a backdrop of sustained weakness in digital asset markets. One of Bitwise’s notable products, the Bitwise 10 Crypto Index Fund, saw its net assets decline by about 31 percent over the first seven months of 2026.
Broader industry challenges, including lower trading volumes and reduced investor appetite following earlier peaks, have prompted several crypto-related firms to reassess operational scale and costs in recent months.
Even as it streamlined its team, Bitwise has continued pursuing strategic initiatives aimed at diversification and growth.
Earlier in the year, the company completed the acquisition of Chorus One, an institutional staking provider, as part of efforts to expand its offerings in that area.
The firm maintains a focus on serving institutional and professional investors through a range of crypto-related investment vehicles.
Market observers note that asset managers in the digital asset space have faced pressure as prices of major cryptocurrencies remained well below previous highs for an extended period.
Bitcoin, for instance, has traded near levels significantly lower than its prior peaks, contributing to reduced fee-generating assets across the industry.
Bitwise’s move reflects a common response among firms seeking to align expenses with current revenue realities while preserving capacity for future expansion.
Company representatives have not detailed which specific departments or roles were affected, nor have they outlined severance arrangements or further restructuring plans.
The emphasis from leadership has remained on the firm’s readiness for growth as cryptocurrency adoption deepens within traditional financial systems and the wider economy.
Bitwise has built its reputation on providing institutional-grade access to crypto markets through index products, ETFs, and specialized strategies.
As first reported by Bloomberg, the recent headcount adjustment occurs at a time when the industry continues to evolve, with ongoing product development and selective acquisitions signaling an intent to remain competitive once market conditions improve.
As digital assets gradually become more embedded in global finance, managers like Bitwise are balancing near-term cost discipline with preparations for potential recovery and broader participation.