Theoretically yes, but honestly I doubt it. Simple hydrocarbons are too stable, water molecules disassociate naturally (that's what pH means!). Water is also polar and can dissolve significant quantities of polar compounds. Ethane is non-polar.
But crucially, the speed of chemical reactions goes down by 2-3 times for every 10C. Ethane liquefies at -160C so most chemical reactions would be around 100000 times slower than at 0C. And many chemical reactions would not work at all because of the high activation energy.
It's possible that low-temperature life might utilize some highly unstable (at room temperature) compounds. But there are few low-energy pathways that can be used to _synthesize_ these compounds in the first place in nature.
But crucially, the speed of chemical reactions goes down by 2-3 times for every 10C. Ethane liquefies at -160C so most chemical reactions would be around 100000 times slower than at 0C. And many chemical reactions would not work at all because of the high activation energy.
It's possible that low-temperature life might utilize some highly unstable (at room temperature) compounds. But there are few low-energy pathways that can be used to _synthesize_ these compounds in the first place in nature.