Bitwise shrinks to 155 staff as its index fund bleeds and its staking arm grows

Bitwise Asset Management acquired a staking firm in February and then cut 14% of its jobs in August.

Bitwise bought 50 staking engineers in February

Bitwise finalized its acquisition of Chorus One on February 24. The deal added more than $2.2 billion in staked assets and 50 technology professionals. It extended the firm across more than 30 proof-of-stake networks such as Solana, Avalanche, Sui, and Aptos.

Staking is “one of the most compelling growth opportunities” for clients who hold crypto assets, CEO Hunter Horsley said at the time. He praised Chorus One’s “eight-year track record of doing things the right way.”

Chorus One was consolidated into Bitwise Onchain Solutions, the company’s staking arm. At the time the deal closed, Bitwise said its company-wide headcount was about 200.

Six months later, the company’s headcount is around 155, and before last week it was about 180. Bitwise has cut its headcount by about a quarter since February, and the cut last week accounts for about 25 of those.

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