Ether surges on US ETF speculation

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.

“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. A sceptical SEC reluctantly acquiesced to US spot-bitcoin ETFs in January in the wake of a court reversal last year. The products have amassed $59-billion in assets since their January launch, one of the most successful debuts ever for a fund category. That helped lift bitcoin to a record high in mid-March.

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