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>>Calamos Investments, a company managing $45 billion in assets, is launching ETFs designed to limit losses while its CEO expresses a positive view on Bitcoin.

Calamos Investments, a company managing $45 billion in assets, is launching ETFs designed to limit losses while its CEO expresses a positive view on Bitcoin.

crypthub

5 days ago

Introduction to Calamos Bitcoin ETFs

Calamos Investments has launched three Bitcoin Structured Protection ETFs (CBOO, CBXO, CBTO) designed to provide risk-managed exposure to Bitcoin for both institutional and retail investors. These ETFs offer tiered downside protection (100%, 90%, or 80%) and capped upside potential, bridging the gap between traditional finance and digital assets. The launch reflects growing institutional interest in regulated crypto products.

Fund Structure and Features

Each ETF resets annually, establishing new upside caps and protection levels every 12 months. The ticker symbols for the three funds are CBOO, CBXO, and CBTO, and they launched on October 8, 2025. CBOO offers 100% downside protection and is suited for conservative investors, while CBXO and CBTO provide different risk/reward trade-offs through varying protection levels and cap rates.

Management and Calamos' AUM

The ETFs are managed by Co-CIO Eli Pars and the Calamos Alternatives Team. Calamos Investments manages approximately $45 billion in assets, indicating a significant level of experience and resources behind these structured Bitcoin products. The structure aims to offer periodic re-evaluation of exposure and downside coverage.

Key Benefits and Considerations

These ETFs provide a tailored approach to Bitcoin exposure, combining downside protection with capped upside. The annual reset mechanisms and structured format signal a broader institutional shift towards more regulated solutions for digital assets. Investors should consider cap rates and fund mechanics before investing for a complete understanding of the fund’s functionality.