Bitwise reduces staff 14% as BITW assets drop 31%. CEO Horsley says the firm is positioned for growth. Industry layoffs continue with Polygon, BitGo, Coinbase.
Alpha Score of 37 reflects weak overall profile with poor momentum, weak value, poor quality, strong sentiment.
Bitwise Asset Management cut 14% of its workforce, reducing headcount to about 155 people. CEO Hunter Horsley said the reduction positions the firm for continued growth as cryptocurrencies become more integrated into the global economy.
The company's flagship product, the Bitwise 10 Crypto Index Fund (BITW), saw net assets fall 31% in the first seven months of 2026. Despite the downturn, Bitwise in February completed the acquisition of Chorus One, an institutional staking provider, to expand that line of business.
The layoffs are part of a broader industry trend. Polygon Labs cut staff twice in 2026, BitGo eliminated 15% of its workforce in June, and Coinbase reduced headcount by 14% in May. The string of cuts reflects sustained pressure on crypto firms from lower trading volumes and regulatory uncertainty. crypto market analysis
CIO Matt Hougan said bitcoin's resilience to recent negative headlines suggests the bear market may be bottoming. He added that he expects the token to end the year "significantly higher."
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