Calamos Revolutionizes Investor Access to Bitcoin, Launching the World’s First Bitcoin Laddered Structured Protection ETFs
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Improving Portfolios Utilizing a Stable Risk Framework
Our research shows Protected Bitcoin strategies help investors focus on outcomes rather than volatility concerns. By testing three funding approaches—fixed income, equities, gold— Bitcoin is shown to improve each portfolio's risk-return profile.
Available: Laddered Protected Bitcoin ETFs
Each Calamos Laddered Protected Bitcoin ETF (at 100%, 90% & 80% protection levels from underlying ETFs) allocates equally across the four quarterly Calamos Protected Bitcoin ETFs creating a continuous outcome period without timing risk considerations.
Potential Benefits of Calamos Protected Bitcoin ETFs
Upside exposure to bitcoin
Built-in downside protection level over the outcome period
Defined outcome period
Why Calamos Protected Bitcoin ETFs?
Many investors have watched from the sidelines as digital assets evolved from an experiment to an institutional reality. They’ve recognized the potential but questioned the risk. They’ve appreciated the innovation but demanded protection. Through Calamos’ heritage of risk management, investors can now participate in the future while seeking to preserve wealth in the present.
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Comparing a Laddered ETF vs. A Defined Outcome Period ETF
- Entry point agnostic – rolling periods mitigate timing risk
- Entry point matters - one-year defined outcome periods introduce timing considerations
- Strategic derisking of Bitcoin position
- Risk-managed alternative to direct Bitcoin exposure
- Tactical derisking of Bitcoin position
- Opportunistic entry points to trade into defined Bitcoin outcomes
- Upside capture dependent on combination of underlying series and rolls
- Defined upside capture over outcome period
- Downside protection from underlying ETFs, periods roll
- Defined downside of 0%, 10% or 20% over outcome period
The Bitcoin Revolution is Happening Now
Bitcoin has experienced strong growth, and demand is on the rise for the asset.
Past performance is no guarantee of future results. Source: Morningstar. Data as of 12/31/25.
Bitcoin has become one of the largest assets in the world.
Bitcoin, previously considered a niche asset for high-risk investors, has become the seventh largest asset in the world.
Past performance is no guarantee of future results.
Source: Y Charts. Data as of 12/31/25.
Portfolios May Benefit from Bitcoin Exposure
Bitcoin has outperformed over most periods, but not all.
Historically, bitcoin has shown significant performance dispersion, either substantially outperforming or underperforming relative to traditional asset classes.
Past performance is no guarantee of future results. Source Morningstar and Bloomberg. Data as of 12/31/25.
Bitcoin May Serve as a Strong Portfolio Diversifier
Bitcoin has exhibited low correlation to both traditional portfolio and diversifying assets.
Past performance is no guarantee of future results. Source: Morningstar. Data shown is 10 year trailing 1/1/2016-12/31/2025.
Why Calamos?
Through Calamos, bitcoin is no longer the domain of the bold few, but a carefully considered option for the prudent many.
Calamos is one of the longest running alternatives and options-based manager in the country. For nearly 50 years, investors have benefitted from Calamos’ innovative risk management framework.