Options on BlackRock's popular iShares Bitcoin Trust ETF (IBIT) debuted on the Nasdaq Tuesday, ushering in a new way to speculate on the price of bitcoin.

Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

This is Frances Yue, crypto reporter at MarketWatch. Bitcoin hit a record high at $94,963 on Tuesday, after the Nasdaq started to allow trading of options on BlackRock’s iShares Bitcoin Trust for the first time on the same day.

Crypto investors are buzzing about this week’s debut of options on exchange-traded funds that hold bitcoin, as heavy volumes du

Bitcoin is the largest cryptocurrency by market capitalization, and this new means of playing its price swings offers traders another way to make — and lose — a lot of money quickly. Here are five key tactics for Bitcoin traders looking to succeed in this volatile market.

Nasdaq Inc. is planning to list options on BlackRock Inc.’s Bitcoin exchange-traded fund, possibly as soon as Tuesday, allowing investors to use derivatives to bet on or against the world’s largest digital asset.

If IBIT closes above $56.00 on December 13, we would earn $2.05 per shrare on $53.95 at risk, or 3.8%. Over a 24-day holding period, the annualized return would be 57.8%.