MONTHLY REPORT
July 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 July 2026
Digital Fund returned +8.01% over the month. Bitcoin gained 7.53% to close at US$62,721.33, recovering from the early-month low as forced-selling fuel was judged exhausted, and held the gain through rising rate-hike expectations, higher bond yields and an AI-sector sell-off. Ethereum was the standout performer, rising 18.97% to close at US$1,860.78, as the launch of Ethereum Institutional and easing inflation concerns drove a break above its prior multi-month downtrend, with buying volume rising sharply.
Outside the benchmark holdings, Monero was the strongest contributor, returning 16.16% to close at US$353.09, supported by protocol momentum after the Monero Research Lab outlined plans to ship the final alpha of its Brainrot Ledger scaling work. Stellar token was the principal detractor, falling 5.36% to close at US$0.1726, despite two network upgrades in the period, the Zipper authentication delegation activation and Protocol v25, and a golden-cross signal building toward a US$0.20 breakout that still requires volume confirmation.
digital fund MONTHLY PERFORMANCE
Market commentary
July stopped Bitcoin’s losing streak and gave Ethereum its best month of the year. Bitcoin closed up 7.59 percent at $62,721 and Ethereum up 19.06 percent at $1,861, rebounding from the worst stretch of declines crypto had seen since 2022. Prices recovered faster than confidence. Money returned to the ETF market in bursts, with Bitcoin funds clawing back only a small part of June’s $4.5 billion in outflows. Beyond the biggest coins, things stayed quiet, and the rally never spread market-wide. Behind the scenes, the industry kept moving. Stablecoin supply reached about $308 billion, and DTCC started real trades of tokenised securities. Washington lagged, with the CLARITY Act unresolved and the GENIUS Act missing its July 18 rulemaking deadline.
BITCOIN (BTC)
Bitcoin spent July repairing the damage from June, when $4.5 billion was pulled from spot ETFs and the price fell below $60,000. A weak jobs report eased fears of an immediate rate increase, and $223.5 million returned to US funds on July 2. Bitcoin climbed from about $58,297 to a high near $66,803, briefly clearing $65,000 before closing July at $62,721, up 7.59 percent for the month but down 28.61 percent for 2026. The ETF numbers explain both the rebound and the stall. Seven straight days of buying brought in $999.3 million, then withdrawals returned, leaving a modest $172.8 million of net new money for the month. Treasury buyers also stepped back, with Strategy selling 2,225 Bitcoin in July.
ETHEREUM (ETH)
Ethereum had the stronger month of the two. ETH started near $1,563, reclaimed $1,800, peaked near $1,967 and closed at $1,861, up 19.06 percent for July, though still down 37.61 percent for 2026. The exchange-traded funds helped. Farside recorded $347.4 million of net inflows into US spot Ethereum ETFs, spread across 17 days of buying and five days of selling, a steadier pattern than Bitcoin’s relative to the fund market’s smaller size. But the support was concentrated. CoinDesk reported much of the returning demand sat in a single fund, and new activity was tied to Robinhood Chain, where trading was heavily memecoin-driven. Treasury buyers also cooled, with BitMine buying back shares instead of ETH.
MARKET MOVERS
Sector performance stayed wide through July. Perpetual exchanges and revenue-producing protocols retained their interest, while social, gaming and other narrative-driven groups remained deeply damaged after June. Altcoin leverage stayed pinned near historic lows, with open-interest dominance in a depressed 0.6-0.7 range, so the month’s gains stayed concentrated in the biggest names rather than spreading across sectors. DeFi total value locked moved off its late-June low, but the headline is flattered by price appreciation. Coinbase found capital remained available inside the system without flowing into broad speculative positions. The lesson for readers who do not follow daily prices: a green month for the majors does not mean the average token recovered.
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.
