Bitwise Slashes Staff as Its Flagship Fund Bleeds Out

Bitwise Slashes Staff as Its Flagship Fund Bleeds OutBitwise Asset Management has cut 14% of its workforce, trimming the team to about 155 employees after its flagship Bitwise 10 Crypto Index Fund lost nearly half its net assets in the first half of 2026. BITW Lost 48% of Its Net Assets in Six MonthsThe fund’s SEC 10-Q filing for the quarter ending June 30 showed net assets of $532.8 million, down from $1.03 billion on Dec. 31, 2025. That 48.3% decline reflects the fund’s change in total net assets, which combines market depreciation and $161.2 million in net share redemptions. Other reports citing year-to-date performance have put the decline at about 31%, reflecting a different measure of performance rather than the change in total net assets. Crypto Layoffs Show an Industry Shrinking into AIBitwise joins at least four other major crypto firms that cut headcount during 2026.