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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
08/05/2026

Aug 5: Intesa Sanpaolo Triples Ether ETF Holding, Slashes Bitcoin Exposure

Alibaba Open-Sources 2.4 Trillion-Parameter Qwen3.8-Max AI Model · Polymarket Eyes $20B Valuation as Prediction Market Competition Intens · Galaxy Digital Q2 Loss Narrows, Shares Drop 5% Despite Data Center Mil

Aug 5: Intesa Sanpaolo Triples Ether ETF Holding, Slashes Bitcoin Exposure

Market Snapshot

  • Bitcoin (BTC): $64,332.43 (+0.67% 24h)
  • Ethereum (ETH): $1,876.25 (+0.06% 24h)
  • Solana (SOL): $74.08 (+0.35% 24h)
  • ETF Flows: US spot Bitcoin ETFs saw $4.89B net outflows in Q2 2026; IBIT alone lost $2.95B

Top Stories

Key Takeaways

  • Prediction markets are rapidly institutionalizing, with Polymarket and Kalshi targeting multi-billion dollar valuations and attracting mainstream financial backers.
  • Institutional crypto portfolios are rotating away from bitcoin and toward ether and staking products, amid volatile price action and ETF outflows.
  • Crypto-native firms like Galaxy Digital are betting big on digital infrastructure, but face execution risk and investor skepticism over debt and capacity utilization.
  • Open-source AI is seeing a power shift, with Chinese models like Qwen3.8-Max gaining global traction and challenging US incumbents in select domains.

What to Watch

Eyes are on Polymarket's ongoing funding talks and whether the $20 billion valuation materializes in a closed round. Institutional ETF flows and asset rotation trends will be in focus as Q3 filings emerge. In AI, independent benchmarking of Qwen3.8-Max and further open-weight releases from both US and Chinese labs could reshape the competitive landscape. Finally, watch for any official confirmation—or denial—of the reported Hormuz deal, which may impact both crypto and macro markets.