{"id":61226,"date":"2025-01-24T15:00:51","date_gmt":"2025-01-24T15:00:51","guid":{"rendered":"https:\/\/www.etfworld.com\/co.uk\/?p=61226"},"modified":"2025-01-24T17:06:53","modified_gmt":"2025-01-24T17:06:53","slug":"calamos-to-launch-worlds-first-downside-protected-bitcoin-etf-suite","status":"publish","type":"post","link":"https:\/\/www.etfworld.com\/co.uk\/calamos-to-launch-worlds-first-downside-protected-bitcoin-etf-suite\/","title":{"rendered":"Calamos to Launch World\u2019s First Downside Protected Bitcoin ETF Suite"},"content":{"rendered":"<h5 class=\"heading\" style=\"text-align: justify;\"><strong>Calamos<\/strong> to Launch World\u2019s First Downside Protected Bitcoin ETF Suite With New 90% Protection (CBXJ) and 80% Protection (CBTJ) ETFs; Announces Upside Cap Ranges for the Suite<\/h5>\n<p><!--more--><\/p>\n<p style=\"text-align: center;\"><a href=\"\/co.uk\/newsletter\"><strong>Sign up to our free newsletters<\/strong><\/a><\/p>\n<hr \/>\n<p><span style=\"color: #56aa1c;\"><strong>John Koudounis, President and CEO of Calamos<\/strong><\/span><\/p>\n<hr \/>\n<p style=\"text-align: justify;\"><span style=\"color: #56aa1c;\"><strong>John Koudounis, President and CEO of Calamos<\/strong><\/span>, announced the expansion of the Calamos Protected Bitcoin ETF Suite through two new ETFs offering upside growth potential of bitcoin with <strong>90% (CBXJ)<\/strong> and <strong>80% (CBTJ)<\/strong> protection levels over a one year outcome period. He stated, \u201cThis enhancement builds upon the announcement of <strong>CBOJ<\/strong>, the world&#8217;s first 100% Protected Bitcoin ETF, and continues our tradition of bringing innovative options-based and risk managed investment solutions to the marketplace.\u201d<\/p>\n<div id=\"myDiv\">\n<p style=\"text-align: justify;\">CBOJ will launch on <strong>January 22, 2025<\/strong>, offering upside potential to bitcoin to a cap with <strong>100%<\/strong> downside protection over a one-year outcome period. On <strong>February 4, 2025<\/strong>, Calamos will list <strong>CBXJ <\/strong>and <strong>CBTJ<\/strong>, providing <strong>90%<\/strong> and <strong>80%<\/strong> downside protection levels respectively, with correspondingly higher upside cap rates:<\/p>\n<ul class=\"list-unstyled pl-9\" style=\"text-align: justify;\">\n<li><strong>CBOJ<\/strong> with <strong>100%<\/strong> downside protection and an estimated cap range of <strong>10%-11.5%<\/strong><\/li>\n<li><strong>CBXJ<\/strong> with <strong>90%<\/strong> downside protection and an estimated cap range of <strong>28%-31%<\/strong><\/li>\n<li><strong>CBTJ<\/strong> with <strong>80%<\/strong> downside protection and an estimated cap range of <strong>50%-55%<\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The full suite of Protected Bitcoin ETFs is set to launch systematically throughout 2025, delivering risk-managed bitcoin exposure through the liquid, transparent and tax-efficient ETF structure with no counterparty credit risk.<\/p>\n<p style=\"text-align: justify;\">CBOJ, CBXJ, and CBTJ will build upon the success of the firm\u2019s Structured Protection ETF series, launched in 2024, the industry\u2019s most comprehensive suite of 100% downside protection strategies on the S&amp;P 500<sup>\u00ae<\/sup>, Nasdaq-100<sup>\u00ae<\/sup>, and Russell 2000<sup>\u00ae<\/sup>. Within this proven approach, investors can now select from a range of indices, protection levels and outcome periods that align with their investment objectives and risk-tolerance. All 3 ETFs will be listed on Cboe, with additional series of the same solutions listed each calendar quarter.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.etfworld.com\/co.uk\/wp-content\/uploads\/2025\/01\/Kaufman-Matt-Calamos-ETF.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-61227 alignleft\" src=\"https:\/\/www.etfworld.com\/co.uk\/wp-content\/uploads\/2025\/01\/Kaufman-Matt-Calamos-ETF.jpg\" alt=\"Kaufman Matt Calamos ETF\" width=\"400\" height=\"300\" srcset=\"https:\/\/www.etfworld.com\/co.uk\/wp-content\/uploads\/2025\/01\/Kaufman-Matt-Calamos-ETF.jpg 750w, https:\/\/www.etfworld.com\/co.uk\/wp-content\/uploads\/2025\/01\/Kaufman-Matt-Calamos-ETF-300x225.jpg 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a>&#8220;Bitcoin\u2019s acceptance as an investible asset is growing, yet concerns about its volatility remain\u201d, said <span style=\"color: #56aa1c;\"><strong>Matt Kaufman, Head of ETFs at Calamos<\/strong><\/span>. \u201cOur suite of downside protected Bitcoin ETFs will offer a menu of straightforward solutions designed to provide true risk management for this unique asset where investors can select their preferred level of protection and related upside capture based on their specific circumstances.\u201d<\/p>\n<p style=\"text-align: justify;\">The ETFs will initially use a combination of Treasuries and options on the CBOE Bitcoin US ETF Index to provide a regulated way to access bitcoin within a risk-controlled framework. The ETFs will reset annually, offering investors a new upside cap with refreshed protection against negative bitcoin returns over the subsequent 12-month period. Shares of these ETFs can be held indefinitely.<\/p>\n<p style=\"text-align: justify;\"><strong>CBOJ will commence trading on 1\/22\/25 at a $25 NAV<\/strong>, which will allow investors to obtain <strong>100% protection <\/strong>relative to bitcoin over the outcome period. CBOJ will then strike the final cap rate toward the end of the trading day on 1\/22. This innovative approach to buying structured outcome ETFs allows investors to buy-in on day one and obtain the stated protection level (e.g., 100%, 90% or 80%) without being exposed to the overnight volatility of bitcoin, which could otherwise impact the protection level achieved. CBXJ and CBTJ will follow a similar approach.<\/p>\n<h3><span style=\"color: #56aa1c;\">Calamos Bitcoin Structured Alt Protection ETF<sup>\u00ae<\/sup> &#8211; January (CBOJ)<\/span><\/h3>\n<div class=\"table-responsive\">\n<table class=\"table table-bordered w-auto\">\n<tbody>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Protection Level<\/th>\n<td>100% downside protection if held over the outcome period<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Anticipated Launch Date<\/th>\n<td>1\/22\/2025<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Estimated Cap Range<\/th>\n<td>10%-11.5%<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Cap Rate<\/th>\n<td>Cap rate will be determined and announced on January 22, 2025, following market close.<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Outcome Period<\/th>\n<td>1\/22\/25-1\/30\/26<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Reference Asset<\/th>\n<td>CBOE Bitcoin US ETF Index<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Annual Expense Ratio<\/th>\n<td>0.69%<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Portfolio Management<\/th>\n<td>Co-CIO Eli Pars and the Alternatives Team<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h3><span style=\"color: #56aa1c;\">Calamos Bitcoin 90 Series Structured Alt Protection ETF<sup>\u00ae<\/sup> &#8211; January (CBXJ)<\/span><\/h3>\n<div class=\"table-responsive\">\n<table class=\"table table-bordered w-auto\">\n<tbody>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Protection Level<\/th>\n<td>90% downside protection if held over the outcome period<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Anticipated Launch Date<\/th>\n<td>2\/4\/2025<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Estimated Cap Range<\/th>\n<td>28%-31%<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Cap Rate<\/th>\n<td>Cap rate will be determined and announced on February 4, 2025, following market close.<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Outcome Period<\/th>\n<td>02\/04\/25-1\/30\/26<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Reference Asset<\/th>\n<td>CBOE Bitcoin US ETF Index<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Annual Expense Ratio<\/th>\n<td>0.69%<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Portfolio Management<\/th>\n<td>Co-CIO Eli Pars and the Alternatives Team<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h3><span style=\"color: #56aa1c;\">Calamos Bitcoin 80 Series Structured Alt Protection ETF<sup>\u00ae<\/sup> &#8211; January (CBTJ)<\/span><\/h3>\n<div class=\"table-responsive\">\n<table class=\"table table-bordered w-auto\">\n<tbody>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Protection Level<\/th>\n<td>80% downside protection if held over the outcome period<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Anticipated Launch Date<\/th>\n<td>2\/4\/2025<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Estimated Cap Range<\/th>\n<td>50%-55%<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Cap Rate<\/th>\n<td>Cap rate will be determined and announced on February 4, 2025, following market close.<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Outcome Period<\/th>\n<td>02\/04\/25-1\/30\/26<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Reference Asset<\/th>\n<td>CBOE Bitcoin US ETF Index<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Annual Expense Ratio<\/th>\n<td>0.69%<\/td>\n<\/tr>\n<tr>\n<th class=\"font-weight-normal text-capitalize\" scope=\"row\">Portfolio Management<\/th>\n<td>Co-CIO Eli Pars and the Alternatives Team<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<p style=\"text-align: justify;\">Source : ETFWorld.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Calamos to Launch World\u2019s First Downside Protected Bitcoin ETF Suite With New 90% Protection (CBXJ) and 80% Protection (CBTJ) ETFs; Announces Upside Cap Ranges for the Suite<\/p>\n","protected":false},"author":4,"featured_media":61228,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"telegram_tosend":false,"telegram_tosend_message":"","telegram_tosend_target":0,"footnotes":"","_wpscp_schedule_draft_date":"","_wpscp_schedule_republish_date":"","_wpscppro_advance_schedule":false,"_wpscppro_advance_schedule_date":"","_wpscppro_dont_share_socialmedia":null,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"default","_twitter_share_type":"default","_linkedin_share_type":"default","_pinterest_share_type":"default","_linkedin_share_type_page":"","_instagram_share_type":"default","_medium_share_type":"default","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":null,"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[4],"tags":[564],"class_list":["post-61226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-etf-europe","tag-calamos"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"_links":{"self":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/61226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/comments?post=61226"}],"version-history":[{"count":1,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/61226\/revisions"}],"predecessor-version":[{"id":61229,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/61226\/revisions\/61229"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media\/61228"}],"wp:attachment":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media?parent=61226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/categories?post=61226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/tags?post=61226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}