Calamos Bitcoin 80 Series Structured Alt Protection ETF - January (CBTJ)

The Calamos Bitcoin 80 Series Structured Alt Protection ETF - January (CBTJ) aims to deliver bitcoin price exposure up to a cap while protecting against about 80% of losses over a one-year outcome period starting each January. Trading some downside protection for a higher cap distinguishes the 80 Series from Calamos's full-protection bitcoin funds.

The fund uses bitcoin-linked options, such as options on a bitcoin index or bitcoin exchange-traded products, together with U.S. Treasuries to construct its payoff, and does not hold bitcoin directly. A new cap is set at the beginning of each annual period.

CBTJ is sponsored by Calamos Investments of Naperville, Illinois, and trades on Cboe BZX.