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Calamos Investments Introduces Groundbreaking Bitcoin ETFs

Chicago, IL, October 14, 2025 - In a strategic move to redefine investor access to Bitcoin, Calamos Investments LLC has announced the launch of three innovative Laddered Bitcoin Structured Alt Protection ETFs. These groundbreaking investment solutions aim to offer investors robust protection levels while enhancing their cryptocurrency portfolios. Positioned at a significant juncture in the evolving ETF landscape, these products are not only the first of their kind but are also designed to cater to varying risk appetites.

Understanding the New Offerings

The three new ETFs, namely the Calamos Laddered Bitcoin Structured Alt Protection ETF™ (CBOL), Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF™ (CBXL), and Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF™ (CBTL), are tailored to provide diversified exposure to Bitcoin with built-in downside protection of 100%, 90%, and 80%, respectively. John Koudounis, CEO of Calamos Investments, highlighted the significance of these funds in enabling investors to embrace Bitcoin with minimal risk exposure, thereby integrating Bitcoin allocations into their overall financial strategies.

These ETFs represent a paradigm shift, addressing the notorious volatility associated with Bitcoin investments. Koudounis emphasizes, Bitcoin has earned its place as a portfolio allocation, but its volatility remains a barrier for many investors. Our laddered protection ETFs solve this by mapping to traditional risk levels, enabling meaningful Bitcoin allocations within existing portfolio frameworks.

Key Features and Benefits

1. Laddered Protection Levels: Each ETF offers a distinct layer of protection against Bitcoin's unpredictable swings, catering to varying degrees of investor risk tolerance.
- CBOL provides 100% protection
- CBXL provides 90% protection
- CBTL provides 80% protection

2. Model-Portfolio Integration: The single-ticker structure of these ETFs allows for better efficiency in portfolio management, as they can easily be incorporated into existing models without the necessity for extensive market timing. This feature is particularly appealing for financial advisors seeking to deliver tailored solutions to their clients.

3. Proven Innovation: Calamos Investments is well-known for its Structured Protection ETFs, which have gained accolades, including the prestigious 2025 ETF Award from WealthManagement.com. The introduction of these Bitcoin ETFs further solidifies the firm’s commitment to providing innovative investment solutions.

Launch and Operating Details

The new ETFs will be officially launched on October 14, 2025, marking a historic moment in ETF history. The fund team, led by Co-CIO Eli Pars, is set to manage these products, ensuring that they adhere to Calamos's high standards of investment strategy.

The funds will have an annual expense ratio of 0.79%, maintaining competitive pricing in the dynamic ETF market. Furthermore, the ETFs will reference the CBOE Bitcoin US ETF Index, allowing for consistent tracking according to market standards.

In light of the growing acceptance of cryptocurrencies among financial advisors and investors, Matt Kaufman, Head of ETFs at Calamos, stated, We've seen advisors getting more comfortable providing their clients with exposure to Bitcoin. Adding a protected Bitcoin strategy to a portfolio has shown the potential to improve returns while reducing risk. The Calamos Laddered Protected Bitcoin ETFs will make allocating to risk-managed Bitcoin strategies even easier.

Conclusion

Calamos Investments’ introduction of these innovative Laddered Bitcoin Structured Alt Protection ETFs is a significant milestone in the mission to provide investors with safer entry points into cryptocurrency investments. By addressing the key concern of volatility through structured protection, Calamos is empowering both individual and institutional investors to confidently engage with Bitcoin. As these products roll out, their impact on the market and investor behavior will undoubtedly be closely monitored.

For more information on the Calamos Structured Protection ETFs and their various features, please visit Calamos's official website or their social media channels.