Ether grabbed the cryptocurrency spotlight after posting its biggest jump in more than a month, a surge pegged to speculation about the outlook for applications to start US exchange-traded funds for the token.
The second-largest digital asset traded at about US$3,678 ($4956.10) as of 9:40am on Tuesday in Singapore, holding most of an 8.5% advance from US hours. Ether’s 61% year-to-date gain is closing in on market-leader Bitcoin’s 67% increase.
“There’s been some chatter about Ether ETF issuers meeting with the US Securities and Exchange Commission,” said Edward Chin, co-founder of digital-asset hedge fund Parataxis Capital.