Bitwise cuts 14% of staff as crypto slump hits ETF issuers, following 2025-2026 market downturn affecting Bitwise ETF assets under management.

According to @EricBalchunas, the number of first-time ETF issuers set a new record for the third consecutive year, driven by large flows into ETFs, source: @EricBalchunas on X, January 13, 2026. He states that big flows attract issuers and product innovation, which then bring more flows and additional issuers, forming an upward spiral, source: @EricBalchunas on X, January 13, 2026. Traders, including those focused on crypto-linked ETFs, can use this flows-innovation cycle as context to monitor issuer launches, product rollouts, and asset flows across the ETF market, source: @EricBalchunas on X, January 13, 2026.

According to @EricBalchunas, BlackRock holds 30% of the US ETF market, maintaining a 1% lead over Vanguard at 29% (source: Eric Balchunas on X, Dec 23, 2025). He reports both issuers increased market share by 0.2% this year (source: Eric Balchunas on X, Dec 23, 2025). He also notes the gap to third and fourth place is very large (source: Eric Balchunas on X, Dec 23, 2025). The post does not reference crypto ETFs or direct crypto market impact (source: Eric Balchunas on X, Dec 23, 2025).