LONDON, May 21, 03:20, Ether posted its biggest two-day gain in nearly two years on Tuesday amid speculation about the outcome of applications to U.S. exchange-traded funds to track the world's second-largest crypto currency, while bitcoin also hits a record high.

Ether $ETH , the foundation of the ethereum blockchain network, was 8% higher on the day at $3,775, its highest in two months, after rising 13.8% on Monday.

Leading crypto currency Bitcoin $BTC was recently up 2.2% at $71,000, about 4% below its March peak of $73,803.25.

VanEck, ARK Investment Management and seven other issuers have filed with the SEC to list spot ether ETFs. The SEC must decide on VanEck and ARK's filings, May 23 and May 24.

Joseph Edwards, head of research at Enigma Securities, cited reports saying the SEC has asked exchanges listing ether ETFs to update their filings and separate Bloomberg ETF research showing the Analysts increased their probability of informal approval.

#source : Reuters