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Bitcoin Revenue in April Represents $3B a Year, ETC Group Says
ETC's first industry report also shows second-quarter Ethereum transaction volume increased more than 2,000%.
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.
STORY CONTINUES BELOW
- 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 the decentralized exchange surged to $283.8 billion from $3.4 billion.
- The bitcoin revenue figure is calculated from transaction fees on the network.
Read more: ETC Group to List First Bitcoin ETP in London on the Aquis Exchange
Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
