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.

Cboe Global Markets Inc. said it is set to list the first cash-settled index options related to the spot price of Bitcoin, marking the latest addition of cryptocurrency-related securities to traditional exchanges.

Welcome back to Distributed Ledger. This is Frances Yue, crypto reporter at MarketWatch.

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.

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%.

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

US exchange-traded funds investing directly in Bitcoin surpassed $100 billion in total assets as the original cryptocurrency extended a record-breaking rally.