Bitcoin revenue in April represents $3B a year, ETC group says

ETC Group, which in June launched the first bitcoin exchange-traded product (ETP) in the U.K., said the cryptocurrency generated an annualized $3 billion of revenue for miners in April.

• ETC's first report on the industry also shows transaction volumes on Ethereum increased more than 2,000% in the second quarter to $777.1 billion, up from $36.1 billion a year before, the company said.

• Volumes on decentralized exchanged surged to $283.8 billion from $3.4 billion.

• The bitcoin revenue figure is calculated from transaction fees on the network.