Bitwise Asset Management has cut roughly 14% of its workforce, bringing its team to about 155 people from around 180. The San Francisco-based asset manager oversees approximately $9 billion in assets across more than 70 investment products, including a $2.3 billion spot Bitcoin ETF. Bitcoin has fallen close to half from its October 2025 record to around $64,000, in a slump running about ten months. The crypto industry is going through a consolidation phase with layoffs at Coinbase, FalconX and closures of BitMEX and BitMart. Bitwise’s fund holds about $2.3 billion, under 3% of the total $77.5 billion in net assets held by U.S. spot Bitcoin ETFs.
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