John Koudounis, President and CEO of Calamos exclaims, “I am excited to announce the world’s first 100% downside protected Bitcoin ETF – CBOJ. This is consistent with our history of groundbreaking innovations in risk management.”
CBOJ will build upon the success of the firm’s Structured Protection ETF series, launched in 2024, the industry’s most comprehensive suite of 100% downside protection strategies on the S&P 500, Nasdaq-100, and Russell 2000. 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 profiles. CBOJ is anticipated to be listed on CBOE on January 22, 2025.
“Many investors have been hesitant to invest in bitcoin due to its epic volatility”, said Matt Kaufman. “Calamos seeks to meet advisor, institutional and investor demands for solutions that capture bitcoin’s growth potential while mitigating the historically high volatility and drawdowns of this fast-growing and high performing asset.”
CBOJ will use a combination of Treasuries and options on the CBOE Bitcoin US ETF Index. This active ETF provides a regulated way to access bitcoin within a risk-controlled framework. CBOJ resets annually, offering investors a new upside cap with refreshed protection against negative bitcoin returns over the subsequent 12-month period. Shares of CBOJ can be held indefinitely.
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Source – prnewswire
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