21Shares and Bitwise Cut Jobs as Crypto Slump Bites

21Shares has laid off senior employees, including long-standing sales and marketing staff, as the prolonged crypto downturn pressures specialist ETP providers. The firm did not disclose the scale of the cuts but said it is aligning its workforce with strategic priorities while hiring selectively in long-term growth areas. Bitwise has also cut 14% of its global workforce, while FalconX and Hashdex have reduced staff. Falling crypto prices are shrinking ETP asset bases and fee revenues, putting mounting pressure on providers’ business models.