As of early evening on Aug. 4, Bitcoin (BTC +0.93%) rose 0.9% to $64,267.64, Ethereum (ETH +0.64%) rose 0.5% to $1,874.13, and Solana (SOL +0.64%) rose 0.6% to $74.13.

What’s driving crypto markets

Bitcoin rose today on renewed optimism that the Strait of Hormuz may reopen soon. Oil prices fell, and crypto sentiment improved, despite Strategy’s recent Bitcoin sales and investor concern over the Coldcard cold wallet hacks. Circle Internet Group gained almost 5% ahead of tomorrow’s earnings as investors reevaluate the competitive stablecoin environment.

Crypto ETF snapshot

Institutional investment into spot Bitcoin ETFs picked up yesterday, with over $170 million in inflows. The majority went to the iShares Bitcoin Trust ETF, which…