New Calamos Bitcoin ETF to use options strategy tied to five major BTC funds
2025-07-16 20:33:58
Main Idea
Calamos Investments has filed for a 'laddered' Bitcoin ETF that aims to provide downside protection against losses greater than 20% by investing in options contracts tied to five major Bitcoin ETFs.
Key Points
1. Calamos Investments, with over $40 billion in assets under management, filed for a new Bitcoin ETF designed to mitigate Bitcoin's volatility through a 'laddered' structure.
2. The ETF will invest in options contracts referencing five major Bitcoin ETFs: BlackRock’s iShares Bitcoin Trust, Grayscale’s Bitcoin Mini Trust, Bitwise Bitcoin ETF, Fidelity Wise Origin Bitcoin Fund, and ARK 21Shares Bitcoin ETF.
3. The fund targets downside protection for losses exceeding 20%, with potential investments in cash and US Treasurys depending on the portfolio management approach.
4. Calamos previously launched three 'protected' Bitcoin ETFs in January, indicating a continued focus on risk-managed Bitcoin exposure.
5. Bitcoin spot ETFs, approved in January 2024, have seen significant success, with $53.1 billion in Wall Street inflows and total net assets reaching $150 billion as of the report.
Description
The new ETF claims to provide protection against losses greater 20%, relying on the structure of underlying ETFs that the new fund would invest in.
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