MONTHLY REPORT
August 2026
Alpha Node Capital Management Pty Ltd
Australian Financial Service License 479 974.
CAR Number 1308193.
DIGITAL FUND
Digital fund Overview
The Digital Fund seeks long term capital growth through active direct investments into digital currencies and digital tokens. It aims to identify long term technological advantages and capture long term growth in the nascent blockchain industry.
The use cases for blockchain are likely to be broad and varied, however the investment places particular focus on technologies enabling decentralised applications and disrupting monetary value transfer. Projects are assessed for their future applications, technological advantages and network effects. This analysis helps us identify which assets are likely to outperform and which assets may represent more risk.
In broad terms the Fund shall keep its capital weighted towards 1) narrow use protocol layer digital currencies targeting ‘Store of Value’ and ‘Payment System’ use cases (Crypto Currencies); 2) turing complete digital currencies targeting ‘Smart Contract’ and ‘Decentralised Application Platform’ use cases (Crypto Commodities); and a small allocation towards 3) alpha opportunities which include industry specific digital tokens.
key fund information
| Management Fee | 1.5% per annum paid monthly |
| Performance Fee | 15% High Watermark |
| Buy/Sell Spread | 1.50% |
| Min Investment | $50,000 |
| Applications | Monthly |
| Distributions | Annual or Reinvestment |
| Redemptions | Monthly |
| Investment Manager | Alpha Node Capital Management Pty Ltd |
| Trustee | Alpha Node Capital Management Pty Ltd |
| Administrator | Bardak Ventures Pty Ltd |
| Accountant | Barrett Baxter Bye |
PORTFOLIO COMPOSITION
| Store of value | 48% |
| Smart contracts | 43% |
| Industry Specific Tokens | 9% |
Portfolio Commentary
Last Updated: 31 August 2026
Digital Fund returned +24.40% over the month. Bitcoin gained 25.24% to close US$78,554.14, recovering from an early-month stall around US$64,000 as the August breakout above US$69,000 gave way to a further leg higher above US$70,000s. Ethereum was the stronger of the two core holdings, rising 32.57% to close near US$2,467, as ETF inflows resumed through the month and the August surge carried the token decisively back above the US$2,300 level it had struggled to hold since June.
Monero was again the standout contributor, returning 47.42%, supported by the release of the Cuprate node client and continued progress on the Serai decentralised exchange, which helped offset the drag from ongoing delistings at major centralised venues. SKY, the governance token of the Sky protocol, and Binance (BNB) also added to performance, up 21.91% and 17.82% respectively, with SKY continuing to benefit from the protocol’s ongoing token buyback programme. Stellar was the principal laggard, adding just 2.03% despite its tokenised real-world asset market swelling to nearly US$4 billion over the year and a planned tokenisation integration with the DTCC, as the token remained range-bound below resistance. Tronix and Litecoin also lagged the broader rally, gaining 2.12% and 8.09% respectively.
digital fund MONTHLY PERFORMANCE
Market commentary
The month opened with support being tested again and repeated buying into the largest token failing to clear a level that had capped rallies through July, until the U.S. Treasury doubled the planned size of its long-end liquidity-support buybacks on August 19. Long yields dropped, shorts were forced to cover, and the market climbed sharply. The rally survived the squeeze. Total crypto market capitalisation rose 16.67% to $2.681 trillion. Gold gained 10.92% to $4,491.20, far outpacing the Nasdaq at 3.93% and the S&P 500 at 2.62%. Macro came first as a liquidity story, then inflation caught up. July CPI eased to 3.4% and long-term yields fell, yet the market barely moved until the Treasury announcement supplied the stronger cue. July PCE still closed the month high, headline at 3.7% and core at 3.3%, with real consumer spending flat. On regulation, the SEC proposed Regulation Crypto Assets on August 18, a tailored offering framework with exemptions up to $5 million and $75 million and a conditional safe harbour. Congress lagged, with the CLARITY Act still stuck. September inherits a stronger market and a sterner test, as payrolls, PPI and CPI decide whether the liquidity-led order can continue.
BITCOIN (BTC)
Bitcoin closed at $78,554.14, up 25.38% for the month and down 10.59% for 2026. The turn came from forced demand. The Treasury announcement on August 19 liquidated roughly $1.4 billion of Bitcoin shorts within hours, and the squeeze carried price through the levels that had capped rallies through July. ETF cash gave the move staying power. U.S. spot Bitcoin ETFs added $3.31 billion through August 28, with 15 of 20 sessions positive, and buyers subscribed at rising prices through the strongest part of the move. The composition of demand widened too. Goldman Sachs agreed to buy NEOS for up to $2.25 billion, adding a Bitcoin income ETF that sells call options against Bitcoin-linked exposure. Public miners were estimated to have sold $1.78 billion of Bitcoin through the month.
ETHEREUM (ETH)
Ethereum closed at $2,466.93, up 32.56% for the month, beating Bitcoin by more than 7%. U.S. spot Ether ETFs added $1.76 billion through August 28 across 16 positive sessions, equal to more than 11% of the $15.23 billion month-end net asset base. The wrapper is changing too. Fidelity proposed staking the Ether held by FETH, retaining 15% of gross rewards for service fees and distributing cash quarterly. BNY Mellon added staking to institutional custody. Draft EIP-8363 proposed lower consensus issuance as more ETH is staked, which means Ethereum’s investable product is becoming easier to own while its base return is still being debated. September asks whether access to staking creates durable demand once the launch excitement fades.
MARKET MOVERS
Sector breadth expanded meaningfully across the digital asset landscape, with 22 of 25 monitored market themes outperforming the S&P 500 benchmark gain of 2.6%. The strongest performance was led by Crypto Infrastructure (+38.1%), Gold Miners (+32.8%), DeFi Lending and Yield (+32.6%), and Crypto Exchanges and Brokers (+32.4%), whereas Bitcoin Miners (-7.8%) and China-related tech themes lagged behind. While expanding stablecoin liquidity and higher DeFi capital deployment provided solid balance sheet support, elevated leverage ratios on major exchanges and a Fear and Greed Index reading of 74 suggest increased vulnerability to sharp pullbacks if market momentum slows.
Alpha node global
ABOUT
Alpha Node Global is a regulated Australian investment manager and licensed trustee, providing institutional-grade access to digital asset markets. Operating under the Australian Financial Services Licence (AFSL), we specialise in building secure, compliant, and actively managed investment solutions across the evolving digital asset landscape.
Our mission is to bridge traditional finance with the digital economy offering smart, transparent, and future-ready financial products that enable institutions and high-net-worth investors to invest, stake, and store digital assets with confidence.
At Alpha Node, we uphold the highest standards of governance, compliance, and capital management. Our commitment to transparency, security, and fiduciary responsibility sets us apart in a fast-moving industry, positioning us as a trusted partner for those looking to navigate the future of finance.
MANAGEMENT DIVERSIFICATION
INVESTMENT COMMITTEE
SECURITY
LOW CORRELATION & RISK MITIGATION
Alpha Node Capital Pty Ltd (ANC) is the Trustee of the Fund and issues Units under an Australian Financial Services Licence (AFSL 479974).
ANC is furnishing this presentation to sophisticated prospective investors for informational purposes only in relation to a potential opportunity to subscribe for Units in the Digital Fund (DF). This is neither an offer to sell nor a solicitation for an offer to buy Interests in the Fund. An offer to invest is contained within the Fund’s Information Memorandum. The information in this document is not intended to be relied upon as advice to investors or potential investors and has been prepared without taking into account the Recipient’s investment objectives, financial circumstances or particular needs.
Any investment decision should be made based solely upon appropriate independent due diligence. Recipients of this document are advised to consult their own professional advisers as to the legal, tax, financial or other matters relevant to the suitability of an investment in Units of the Fund. An investment in any Unit trust, including this Fund, is subject to risks of potential loss of income and the potential loss of capital as a result of specific events.
The summary set forth in this Presentation does not purport to be complete, and is qualified in its entirety by reference to the definitive offering documents relating to the Fund. Do not place undue reliance on this Presentation. Information may change and be inaccurate, incomplete, or outdated: The information in this Presentation is for discussion purposes only and no representations or warranties are given or implied. Any use of this Presentation is on an “as is” and “as available” basis and is at the user’s sole risk.
