Calamos targets volatility-wary investors with new Bitcoin ETF featuring 100% downside protection
Calamos Investments will launch a new Bitcoin ETF, CBOJ, on January 22, offering 100% downside protection for investors. The ETF utilizes US Treasuries and options linked to the CBOE Bitcoin US ETF Index to shield against losses. CBOJ resets annually, providing a new upside cap and refreshed protection for the following year, catering to long-term holders. The structure appeals to investors seeking to capture Bitcoin's growth while managing volatility. Calamos has approximately $40 billion in assets under management and specializes in various fund strategies. The Bitcoin ETF market has experienced significant growth, with over $35 billion in inflows across 12 products last year, driven by increasing investor interest. Eric Balchunas noted the competitive nature of the market, highlighting CBOJ's unique structure and timing.
