Calamos Unveils 3 Laddered Protected Bitcoin ETFs

Core Insights - Calamos Investments has launched three new alternative bitcoin funds, the Calamos Laddered Bitcoin Structured Alt Protection ETFs, which are designed to provide laddered bitcoin exposure while offering varying levels of downside protection and upside potential [1][2][8] Fund Details - The Calamos Laddered Bitcoin Structured Alt Protection ETF (CBOL) invests in four Calamos 100% Protected Bitcoin ETFs, providing 100% downside protection with a net expense ratio of 0.79% [2][3] - The Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF (CBTL) also has an expense ratio of 0.79% and invests in Calamos 80% Protected Bitcoin ETFs, limiting total loss to -20% while allowing for a higher upside cap compared to CBOL [4][5] - The Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBXL) offers a middle ground, with a 79 basis points expense ratio and limiting total loss to -10%, appealing to investors seeking moderate risk [6][7] Market Context - The introduction of these funds addresses the volatility of bitcoin, which has been a barrier for many investors, by providing structured risk management options [2][8] - Advisors are increasingly comfortable offering bitcoin exposure to clients, and these new funds aim to enhance portfolio returns while managing risk [8]