Calamos Bitcoin Structured Alt Protection ETF - July (CBOY)

The Calamos Bitcoin Structured Alt Protection ETF - July (CBOY) seeks to provide bitcoin price exposure up to a cap while protecting against losses over a one-year outcome period that begins in July. The protection is designed to cover the full downside, before fees and expenses, for investors who hold for the whole period.

The fund uses options linked to bitcoin, such as options on a bitcoin index or bitcoin exchange-traded products, combined with U.S. Treasuries to construct this payoff. It does not hold bitcoin directly, and a new cap is set at the start of each outcome period.

CBOY is part of the Calamos series of bitcoin structured protection ETFs and trades on Cboe BZX.