#United States #Chicago #Calamos Investments #Bitcoin ETFs #downside protection

Calamos Investments Unveils New Bitcoin ETFs with Downside Protection

In an exciting development for investors in digital assets, Calamos Investments, a leading global investment firm, has successfully launched a new series of Bitcoin ETFs designed to offer enhanced protection against market volatility. Announced by CEO John Koudounis on April 8, 2025, these ETFs, known as CBOA, CBXA, and CBTA, provide various levels of downside protection alongside substantial cap rates, ideal for risk-averse investors looking to navigate the complex landscape of cryptocurrency investments.

A Strategic Response to Market Needs

The launch of the April series follows the initial offering of Calamos' innovation in protective ETFs, which were introduced earlier in 2025. The firm recognizes the growing interest in Bitcoin, particularly as continue market fluctuations put pressure on prices. Koudounis emphasized that the current financial climate underscores the importance of mitigating risks, stating, "Market volatility serves as a reminder of the importance of risk management and downside protection." The new ETFs aim to bridge the traditional finance and digital assets divide while allowing investors to tap into Bitcoin's potential growth.

Cap Rates and Protection Levels

The newly launched Bitcoin ETFs offer three distinct tiers of downside protection, each accompanied by attractive cap rates. Here’s a breakdown of the April series:

1. CBOA (Calamos Bitcoin Structured Alt Protection ETF®)
- Protection Level: 100% downside protection
- Initial Cap Rate: 10.98%
- Outcome Period: April 7, 2025 - April 6, 2026
- Reference Asset: Cboe Mini Bitcoin US ETF Index (MBTX)
- Annual Expense Ratio: 0.69%

2. CBXA (Calamos Bitcoin 90 Series Structured Alt Protection ETF®)
- Protection Level: 90% downside protection
- Initial Cap Rate: 29.43%
- Outcome Period: April 7, 2025 - April 6, 2026
- Reference Asset: Cboe Mini Bitcoin US ETF Index (MBTX)
- Annual Expense Ratio: 0.69%

3. CBTA (Calamos Bitcoin 80 Series Structured Alt Protection ETF®)
- Protection Level: 80% downside protection
- Initial Cap Rate: 51.76%
- Outcome Period: April 7, 2025 - April 6, 2026
- Reference Asset: Cboe Mini Bitcoin US ETF Index (MBTX)
- Annual Expense Ratio: 0.69%

By offering 100%, 90%, and 80% levels of downside protection, Calamos is providing investors with options that allow them to participate in Bitcoin’s growth potential while effectively managing risk.

Building on Success

The new series builds on Calamos’ existing framework of Structured Protection ETFs, which cater to various investment objectives and risk tolerances. The earlier offerings include comprehensive strategies that provide protection against downturns of major indices such as the S&P 500, Nasdaq-100, and Russell 2000. With over $40 billion in assets under management and significant experience in structured investment strategies, Calamos has positioned itself as a key player in the evolving investment landscape for digital assets.

About Calamos Investments

Founded in the Chicago metropolitan area, Calamos Investments has grown into a diversified global investment firm. Its portfolio includes innovative strategies across various asset classes, including alternatives, multi-asset investments, equity, and fixed income. As of March 31, 2025, the firm managed over $18 billion in liquid alternative assets, catering to a broad range of clients, including financial advisors, pension funds, and individual investors.

The introduction of these Bitcoin ETFs could be a game-changer for investors looking to enhance their portfolios while managing risks effectively. With the right mix of protection and market exposure, Calamos is setting a new standard in the realm of alternative investments.

Conclusion

As the digital financial landscape continues to evolve, the launch of the April series of Bitcoin ETFs by Calamos Investments signifies a crucial step towards integrating strong risk management practices with innovative investment strategies. Investors can now approach the volatile world of Bitcoin with a greater sense of security, backed by Calamos' proven expertise in alternative investing.