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21Shares Files Updated Hyperliquid ETF Application With Ticker $THYP: SEC

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21Shares Files Updated Hyperliquid ETF Application With Ticker $THYP: SEC

21Shares submitted an updated regulatory filing for a US-listed Hyperliquid ETF with ticker symbol $THYP, with fee details still pending.

21Shares filed an updated application for a Hyperliquid ETF to be listed in the United States under the ticker $THYP, according to a filing update posted Tuesday. The submission appears to incorporate feedback from the SEC, with fee information not yet disclosed in the filing.

The updated filing moves the Hyperliquid ETF product closer to regulatory approval and potential US market launch. 21Shares, a digital asset investment products provider, has been pursuing approval for crypto and blockchain-focused exchange-traded products.

Sources: JSeyff on X

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This article was generated automatically by The Defiant’s AI news system from publicly available sources.

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Ether Outperforms as Bitcoin Tops $75,000

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ETH Chart

Crypto markets staged a broad Tuesday rally, fueled by over $500M in short liquidations.

Bitcoin pushed to its highest level in a month on Tuesday as risk appetite returned to crypto markets after President Trump signaled his openness to renewed talks with Tehran even as the U.S. blockade of the Strait of Hormuz remains in place.

The largest cryptocurrency by market capitalization is trading at $75,420, up 5% over the past 24 hours and 10.5% on the week. Ethereum (ETH) is the standout among majors, gaining more than 7% to $2,360, up 14% on the week.

Total crypto market capitalization rose to $2.63 trillion, with Bitcoin dominance hovering near 60%.

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ETH Chart
ETH Chart

Shorts Routed

Data from CoinGlass shows that more than $525 million of leveraged short positions were liquidated in the past 24 hours, and roughly $200 million more would be liquidated if BTC pushes above $75,500, a dynamic that could add fuel to the rally.

Bitcoin accounted for $282 million in total liquidations, and Ether followed at $187 million.

Macro Backdrop

The S&P 500 has now erased all losses triggered by the Iran conflict. Brent crude fell below $100 as markets priced in the possibility of fresh talks before the April 7 ceasefire expires next week.

Markets continue to price in a near-certainty that the Federal Reserve will hold rates steady at its April 28-29 meeting. The Fed Funds rate sits at 3.5% to 3.75%, with one quarter-point cut penciled in for 2026.

Altcoin Movers

Solana’s SOL climbed 4% to $86, up 9.3% for the week. BNB gained 3.3% to $625, XRP rose 3.6% to $1.38, and Dogecoin added 5%. Every non-stable asset in the top 10 is green on both the daily and weekly timeframes.

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Meanwhile, Bittensor (TAO) is today’s only loser in the Top 100 as it continues to grapple with the exit of one of its most prominent subnet projects.

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What next as Ether/bitcoin ratio bounces from 2026 lows

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(CoinDesk)

A closely watched gauge of ether’s relative strength against bitcoin has climbed to a three month high, backed by surging network activity and record stablecoin inflows on Ethereum.

The ether-bitcoin ratio traded near 0.0313 on Wednesday, up from a 2026 low around 0.028 in February but still well below the January 18 high near 0.038. Ether gained 4% over the past seven days to trade near $2,325, outpacing bitcoin’s 3.9% move over the same period.

(CoinDesk)

The ETH/BTC ratio tracks the relative price of ether against bitcoin on crypto exchanges and is one of the most widely followed gauges of risk appetite across the digital asset market.

A rising ratio signals that capital is flowing into ether and, by extension, riskier parts of the crypto ecosystem. A falling ratio points to a preference for bitcoin’s relative safety.

The pair peaked above 0.08 in late 2021 before entering a prolonged decline that accelerated through 2024 and into 2025, dragged lower by bitcoin ETF-driven demand, weakened fee revenue on Ethereum’s base layer following the Dencun upgrade, and a broader rotation away from altcoins.

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When ether outperforms bitcoin on risk-on days rather than simply tagging along, it historically suggests capital is beginning to rotate rather than chase the same trade. The signal strengthens if ether holds up better than bitcoin during the next pullback.

Part of the case for a sustained move rests on Ethereum’s on-chain fundamentals, which have been diverging from the token’s depressed valuation.

New users on the network surged 82% quarter-over-quarter in Q1 to 284,000, according to data from Artemis, while total transactions hit a record 200.4 million for the quarter, a 43% increase from the prior period.

Stablecoin supply on Ethereum also reached an all-time high of $180 billion, up 150% over the past three years, per Token Terminal. The network holds roughly 60% of the global stablecoin market, reinforcing its dominance as the primary settlement layer for tokenized dollars and suggesting a long-term demand anchor for ETH even as short-term price action lags.

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However, ether is still more than 50% below its 52-week high of $4,831, and the ratio would need to reclaim the 0.035 zone on a weekly close to provide evidence that the recovery has legs beyond a short-squeeze bounce.

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X Rolls Out Cashtags as First Step in Finance and Crypto Push

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From NASA to Crypto: The Unlikely Journey of Benjamin Cowen

X has launched Smart Cashtags on iPhone for users in the United States and Canada, bringing real-time financial data for stocks and crypto tokens directly into the app’s timeline.

The feature, first revealed in January 2026, went live on April 15 after months of anticipation around the platform’s finance ambitions.

What X Cashtags Do and How They Work

X Head of Product Nikita Bier announced the rollout in a recent post.

“X has always been the best source of financial news for traders and investors. Billions of dollars are allocated every day based on what people read on Timeline,” he wrote.

Follow us on X to get the latest news as it happens

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The feature streamlines how users discover and track financial assets on the platform. When users search for or post a cashtag or contract address, the system now automatically suggests relevant stocks or cryptocurrencies, allowing them to quickly select the intended asset.

Additionally, tapping any cashtag opens a dedicated feed of related posts, along with a live price chart. This enables them to follow market discussions and price movements without leaving the platform.

Alongside Cashtags, X announced a pilot integration with Wealthsimple, one of Canada’s leading brokerages. Canadian users will see a trading button on Cashtag pages.

This will allow them to buy or sell the asset without leaving the app. Bier called the move “just a small preview of what’s to come.”

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“Our vision is more than just charts. The content on X is valuable & actionable, so trading should be frictionless,” Bier added.

The current launch is limited to the iPhone. However, Bier confirmed that web, Android, and global availability are “coming very soon.”

The Cashtags rollout coincides with X’s broader push into financial services, aligned with Elon Musk’s ambition to turn the platform into an “everything app.” It also follows a cryptic post from Bier suggesting that X should ship something to help fix crypto’s tough year.

While he did not specify whether this was the launch in question, the executive described cashtags as the platform’s first step toward positioning itself as the “best destination” for the finance and crypto communities.

The post X Rolls Out Cashtags as First Step in Finance and Crypto Push appeared first on BeInCrypto.

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What next for Ripple-linked token after Rakuten begins payments

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What next for Ripple-linked token after Rakuten begins payments

XRP is pushing higher again, with volume confirming the move, but it still has to prove this is more than a short-term breakout. The rally is holding for now, and the addition of real-world usage through Rakuten gives it a stronger narrative than recent moves.

News Background

• Japan’s e-commerce giant Rakuten is integrating XRP into its payments app, allowing 44 million users to spend it across more than 5 million merchants. Users can also buy XRP using loyalty points and hold it within Rakuten Wallet, embedding the token into a major consumer ecosystem.

• The move ties XRP into one of Japan’s largest rewards systems, where over $23 billion worth of points are in circulation. Ripple called it one of the most significant milestones for XRP adoption, reinforcing its push into Asia alongside long-standing partnerships like SBI Ripple Asia.

Price Action Summary

• XRP moved from $1.32 to $1.38, breaking out of the $1.325-$1.33 resistance zone on strong volume.
• The rally built gradually with sustained buying rather than a single spike, indicating accumulation.
• Price is now consolidating just below $1.38, holding gains but not yet extending into a fresh leg higher.

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Technical Analysis

• The breakout stands out because of volume. The move was backed by clear participation, not thin liquidity.
• Whale accumulation and rising open interest show positioning is building behind the move.
• Despite this, XRP is still trading within a broader downtrend channel, so the structure has not fully flipped bullish.
• ETF outflows and continued realized losses suggest longer-term conviction remains mixed even as short-term momentum improves.

What traders should watch

• $1.37 is now the key pivot. Holding above it keeps the breakout intact and supports continuation.
• $1.40 to $1.42 remains the real test. A clean break here would shift momentum more meaningfully.
• A move back below $1.32 to $1.30 would invalidate the breakout and return XRP to its prior range.

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Kraken Boss Hints IPO Plan Still On Despite Reports of Pause

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Kraken Boss Hints IPO Plan Still On Despite Reports of Pause

Crypto exchange Kraken has hinted it is still going ahead with an initial public offering despite reports suggesting the plan was put on hold last month due to market conditions. 

Kraken filed for a confidential IPO with the US Securities and Exchange Commission in November, but an unconfirmed report in March suggested that the plan may have been frozen. 

Speaking at the Semafor World Economy 2026 conference on Tuesday, Kraken co-CEO Arjun Sethi didn’t address the pause but confirmed the company had “confidentially filed” for an IPO when asked by Semafor reporter Rohan Goswami whether “there are plans to take Kraken public soon.”

“Is that news?” Goswami asked, to which Sethi responded: “I believe that’s news.”

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Cointelegraph reached out to Kraken to confirm whether Kraken is actively pursuing the IPO or has pushed back the timeline, but did not receive an immediate response.

Sethi’s comments come as German financial markets platform Deutsche Börse Group invested $200 million in Kraken’s parent firm, Payward, in exchange for a 1.5% fully diluted stake on Tuesday.

The deal placed Kraken’s valuation at $13.3 billion, down from $20 billion in November.

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Kraken told Cointelegraph that the Deutsche Börse Group investment seeks to bring crypto and TradFi closer together as a “single, cohesive infrastructure for institutional clients” rather than parallel systems.

Kraken’s IPO plans through a long-term lens

Speaking more broadly about going public at the Semafor conference, Sethi dismissed the idea that Kraken’s IPO may have been driven, or stalled by, policy developments in Washington.

Related: Bitget rolls out SpaceX-linked pre-IPO proxy with Republic

“If you live day by day, quarter by quarter, these things are meaningful,” Sethi said. But “if you’re thinking about your company three, five, 10 or 20 years out, none of this is meaningful. It just doesn’t matter.”

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Sethi also suggested that Kraken isn’t merely going public to gain more access to capital, stating that it depends on the specific market and how much trust there is with regulators.

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