Calamos Bitcoin 90 Series Structured Alt Protection ETF - July (CBXY)

The Calamos Bitcoin 90 Series Structured Alt Protection ETF - July (CBXY) is an exchange-traded fund from Calamos Investments that seeks bitcoin-linked returns within a defined range over a one-year outcome period beginning in July.

Through options on bitcoin-related reference assets, the fund aims to provide upside participation up to a cap set at the start of the period while seeking to protect against most downside losses, with the 90 Series designed around a 90 percent protection level. The fund does not own bitcoin directly. Outcomes apply to shares held for the entire period, after which new option positions and terms are established.