Bitwise cuts 14% of staff, with AUM of approximately $9 billion

Odaily News: Digital asset management firm Bitwise Asset Management has reduced its headcount from approximately 180 employees to around 155, a cut of about 14%. The company stated that this adjustment comes amid a prolonged downturn in digital asset prices.

Bitwise CEO Hunter Horsley said that even after the layoffs, the company's workforce remains the highest in its eight-year history, and he expects business to continue growing as cryptocurrencies become further integrated into the global economy.

Bitwise currently manages over 70 products, including exchange-traded funds, private funds, and separately managed accounts. Among them, its Bitcoin ETF holds approximately $2.3 billion, bringing the company's total assets under management to around $9 billion.