Calamos Bitcoin Structured Alt Protection ETF - April (CBOA)

The Calamos Bitcoin Structured Alt Protection ETF - April (CBOA) seeks to provide exposure to the price return of bitcoin, up to a cap, while protecting against losses over an annual outcome period that begins in April. The fund is designed to offer full downside protection, before fees and expenses, for investors who hold for the entire period.

To build this payoff, the fund uses options referencing bitcoin, such as options on a bitcoin index or bitcoin exchange-traded products, combined with U.S. Treasury holdings. It does not hold bitcoin directly, and the upside cap is reset at the start of each new outcome period.

CBOA is sponsored by Calamos Investments of Naperville, Illinois, as part of its series of monthly structured protection ETFs on bitcoin.