A major exchange-traded fund provider is trying to eliminate volatility from Bitcoin investing.
Calamos Investments launches Calamos Bitcoin Structured Alternative Guard ETF (CBOJ) Wednesday. The company calls it “the world’s first downside-protected Bitcoin ETF.” It was built with risk-averse investors in mind.
“You can buy all day long. Get 100% protection. Eventually, we’ll hit the cap,” Matt Kaufman, the company’s head of ETFs, told CNBC. “ETF Edge” This week. Bitcoin It’s a volatile asset… We don’t want the price of Bitcoin to fluctuate overnight.
The company launched a new Bitcoin ETF on Wednesday. coincidentally Bitcoin’s winning month. The cryptocurrency was up 10% as of late Thursday afternoon.
According to a press release from Karamos, the fund offers Bitcoin In a risk-controlled environment.
“Many investors have been hesitant to invest in Bitcoin due to its extreme volatility,” Kaufman said in the release. “Calamos is committed to serving the needs of advisors, institutions and investors for solutions that Solutions that capture Bitcoin’s growth potential while mitigating the historically high volatility and drawdowns of this fast-growing and high-performing asset.”
Karamos owns more cryptocurrency funds. According to the Calamos website, the company will launch the Calamos Bitcoin Series 90 Structured Alt-Protected ETF (CBXJ) and the Calamos Bitcoin Series 80 Structured Alt-Protected ETF (CBTJ) on February 4.
“You won’t see Calamos’ memecoin ETF”
Although the firm is interested in offering a cryptocurrency fund, Kaufman told ETF Edge that Calamos would not consider one group.
“You’re not going to see a meme coin ETF from Calamos. But being able to acquire Bitcoin in a way that fits your risk tolerance, that’s what we’re here for,” Kaufman said.
