Calamos Laddered Bitcoin Structured Alt Protection ETF (CBOL)

The Calamos Laddered Bitcoin Structured Alt Protection ETF (CBOL) is a fund of funds that holds a ladder of Calamos Bitcoin Structured Alt Protection ETFs with outcome periods beginning in different months. Each underlying series seeks bitcoin price exposure up to a cap with protection against losses over its one-year period.

Laddering the series spreads out reset dates, so the overall portfolio blends many caps and starting levels rather than relying on bitcoin's price on a single reset day. The underlying funds use bitcoin-linked options and Treasuries and do not hold bitcoin directly.

CBOL is sponsored by Calamos Investments and trades on Cboe BZX.