In wave mechanics it is the hidden medium which waves.
'Interpretation of quantum mechanics by the double solution theory - Louis de BROGLIE'
http://aflb.ensmp.fr/AFLB-classiques/aflb124p001.pdf
“When in 1923-1924 I had my first ideas about Wave Mechanics I was looking for a truly concrete physical image, valid for all particles, of the wave and particle coexistence discovered by Albert Einstein in his "Theory of light quanta". I had no doubt whatsoever about the physical reality of waves and particles.”
“any particle, even isolated, has to be imagined as in continuous “energetic contact” with a hidden medium”
Robert B. Laughlin, Nobel Laureate in Physics, endowed chair in physics, Stanford University describes the ether as matter and as stuff which is correct as long as you do not assume that to mean the ether consists of individual particles which can be separately tracked through time.
"It is ironic that Einstein's most creative work, the general theory of relativity, should boil down to conceptualizing space as a medium when his original premise [in special relativity] was that no such medium existed [..] The word 'ether' has extremely negative connotations in theoretical physics because of its past association with opposition to relativity. This is unfortunate because, stripped of these connotations, it rather nicely captures the way most physicists actually think about the vacuum. . . . Relativity actually says nothing about the existence or nonexistence of matter pervading the universe, only that any such matter must have relativistic symmetry. [..] It turns out that such matter exists. About the time relativity was becoming accepted, studies of radioactivity began showing that the empty vacuum of space had spectroscopic structure similar to that of ordinary quantum solids and fluids. Subsequent studies with large particle accelerators have now led us to understand that space is more like a piece of window glass than ideal Newtonian emptiness. It is filled with 'stuff' that is normally transparent but can be made visible by hitting it sufficiently hard to knock out a part. The modern concept of the vacuum of space, confirmed every day by experiment, is a relativistic ether. But we do not call it this because it is taboo."
