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.

Investors are positioning themselves to benefit from a continued rally in the price of Bitcoin on the first day of options trading in the iShares Bitcoin Trust, the biggest exchange-traded fund focused on the cryptocurrency.

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.

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.

Nasdaq head of ETP listings Alison Hennessy discusses the iShares Bitcoin Trust ETF (IBIT) and says our intent is to list and trade Bitcoin ETF options "as early as tomorrow." She speaks with Eric Balchunas,

An industry push to offer options trading on Bitcoin exchange-traded funds recently cleared some regulatory hurdles.