New Bitcoin ETF CBOJ by Calamos Investments
Calamos Investments has recently unveiled a new Bitcoin ETF, CBOJ, set to launch on the CBOE Global Markets on Jan. 22. This ETF offers investors a unique 100% downside protection feature, providing a risk-managed approach to Bitcoin investment.
CBOJ Features
- CBOJ utilizes a combination of US Treasuries and options linked to the CBOE Bitcoin US ETF Index to shield against losses.
- The fund resets annually, introducing a new upside cap and refreshed protection for the next 12-month period, allowing for continuous risk management.
- Nate Geraci, president of ETF Store, emphasized the appeal of CBOJ’s structure, offering full downside protection while limiting upside gains.
According to Matt Kaufman, Head of ETFs at Calamos, the introduction of CBOJ addresses the need for tools that capture Bitcoin’s growth potential while managing its inherent risks. The ETF builds on the success of the firm’s Structured Protection ETF series, which provides comprehensive downside protection strategies for various indices.
Bitcoin ETF Market Overview
The Bitcoin ETF market has experienced significant growth in the past year, with 12 products attracting over $35 billion in inflows. BlackRock’s IBIT emerged as a leader in the market, amassing over $53 billion in assets within its first year.
Market analysts anticipate this trend to continue, driven by increasing investor interest in Bitcoin-related products. Bloomberg ETF analyst Eric Balchunas highlighted the competitive nature of the market, underscoring the intense competition in the Bitcoin ETF landscape.
