Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF Trust

Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF Trust is an exchange-traded fund designed to provide risk-managed exposure to Bitcoin for institutional and individual investors. Its primary function is to track the positive returns of the Cboe Mini Bitcoin US ETF Index, reflecting spot Bitcoin prices up to a pre-set cap, while offering a robust downside protection level of 90% over each one-year outcome period. The ETF achieves continuous coverage by equally allocating across four underlying quarterly Calamos Bitcoin Structured Alt Protection ETFs, each launched in a different quarter. This laddered structure means investors avoid timing risks and maintain exposure to the protection and upside potential at all times. CBXL delivers an innovative approach for portfolio diversification, as Bitcoin’s historically low correlation with traditional asset classes—such as equities, fixed income, and gold—may reduce overall portfolio risk. The fund suits investors seeking participation in Bitcoin’s growth while strictly limiting losses during sharp market downturns, all through a single-ticker solution and transparent outcome-driven methodology. CBXL is managed by Calamos Advisors LLC, a firm known for its expertise in structured protection strategies and disciplined risk management within the ETF market.