Bitwise Asset Management has reduced its headcount from about 180 employees to roughly 155, a cut of around 14%, according to a Bloomberg-cited report carried by Odaily. The digital asset manager said the move came during a prolonged downturn in digital asset prices. Chief Executive Officer Hunter Horsley said the company’s workforce remains at its highest level in the firm’s eight-year history even after the layoffs, and added that he expects the business to keep expanding as cryptocurrencies become more integrated into the global economy. Bitwise currently oversees more than 70 products across exchange-traded funds, private funds and separately managed accounts. Its Bitcoin ETF has about $2.3 billion in assets, while the firm’s total assets under management are about $9 billion.
Bitwise Asset Management has cut its workforce from about 180 employees to roughly 155, reducing staff by around 14%.
The company said the adjustment came during a period of sustained weakness in digital asset prices.
Headcount remains at an eight-year high
Chief Executive Officer Hunter Horsley said the firm’s employee base is still at its highest level in the company’s eight-year history after the layoffs.
He also said the business is expected to keep growing as cryptocurrencies become more integrated into the global economy.
More than 70 products under management
Bitwise currently manages more than 70 products, including exchange-traded funds, private funds and separately managed accounts.
Its Bitcoin ETF accounts for about $2.3 billion, and the firm’s total assets under management stand at about $9 billion.
Bloomberg was cited as the source of the report.
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