Looking For Bitcoin Exposure With Downside Protection? There's Now An ETF For That (CORRECTED)
Editor’s note: This story has been updated to correct a reference to the stock ticker for an upcoming Calamos 100% downside-protected Bitcoin ETF.
Investment management firm Calamos was gearing up to launch the world’s first 100% downside-protected Bitcoin (CRYPTO: BTC) exchange-traded fund, according to a Monday press release.
What Happened: The ETF will employ a mix of Treasury securities and options on the CBOE Bitcoin U.S. ETF Index, an investment avenue that tracks the price returns from U.S.-listed spot Bitcoin ETFs, Calamos said.
The ETF will reset annually, providing investors with a new upside cap to protect against negative Bitcoin returns for the next 12 months. This effectively means that investors will have to give up some potential gains in return for protection during market downturns.
The ETF is expected to be listed on CBOE on Jan. 22 under the ticker CBOJ. CBOJ units can be held indefinitely.
Such ETFs are a big hit on the equity side. CBOJ will be an extension of the Calamos’ Structured Protection ETF series, including Calamos S&P 500 Structured Alt Protection ETF—January (NYSE:CPSY) and Calamos Russell 2000 Structured Alt Protection ETF—January (NYSE:CPRY), both of which deliver 100% downside protection.
Why It Matters: The launch of CBOJ comes at a time when institutional investment in cryptocurrencies has reached record levels.
Global digital asset investment products saw a record $44.2 billion in inflows in 2024, nearly quadrupling the previous high of $10.5 billion set in 2021. The introduction of U.S. spot-based ETFs was a significant driver of this surge.
Moreover, the success of Bitcoin ETFs is evident from the performance of BlackRock’s iShares Bitcoin Trust ETF IBIT (NASDAQ:IBIT), which became the most successful ETF launch in history. The fund accumulated over $50 billion in assets under management within its debut year.
Price Action: At the time of writing, Bitcoin was exchanging hands at $101,696.58, up 2.03% in the last 24 hours, according to data from Benzinga Pro.
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Posted-In: bitcoin ETF Calamos CBOE Bitcoin U.S. ETF Index CBOJCryptocurrency News Markets ETFs
