Bitwise Asset Management brought in more than $1.8 billion in net inflows during the first half of 2026, according to Chief Executive Hunter Horsley. The milestone occurred despite a prevailing bear market across the cryptocurrency sector.
Tom Lee, co-founder and head of research at Fundstrat Global Advisors, described the figures as outstanding, praising the Bitwise team for achieving significant growth during difficult market conditions.
Data shared by Horsley indicates that four distinct product franchises each drew over $100 million during the period: exchange-traded funds and products, private strategies, staking, and vaults. Notably, three of these four product lines generate income or yield for investors rather than purely tracking asset prices.
Bitwise's vault, launched in January in collaboration with onchain lender Morpho, targets an annual yield of approximately 6% on stablecoins. Meanwhile, the firm's tokenized Crypto Carry Fund held $259 million by late May, offering a 4% yield by purchasing cryptocurrency and selling futures contracts against it. Staking products also saw rapid demand, with a Solana staking fund surpassing $500 million just 18 days after its listing.
In contrast, products reliant solely on price appreciation experienced outflows. Net assets for the Bitwise 10 Crypto Index ETF (BITW), which holds a basket of large tokens dominated by Bitcoin and ether, dropped from $1.03 billion on December 31 to $678 million on March 31. This decline was driven by a 24% drop in price per share and net withdrawals of 2.25 million shares, despite a recent fee reduction from 2.50% to 0.75%.
Amid these shifting product dynamics, Bitwise reduced its workforce from approximately 180 to 155 employees on August 12.
