A large provider of stock exchange-traded funds tries to reduce the volatility of Bitcoin investments.
Calamos Investments launched Calamos Bitcoin Structured Alt Protection ETF (CBOJ) on Wednesday. The company describes it as “the world's first Bitcoin ETF with downward protection”. It was specially developed for risk -free investors.
“You can get in all day. Get 100 percent protection. And at the end of the day we will reach the upper limit, ”the company's ETF boss, Matt Kaufman, told CNBC this week. Bitcoin Is a volatile asset … We don't want the Bitcoin price to change overnight. “
The company launched the new Bitcoin ETF on Wednesday. It coincides with a successful month for Bitcoin. The cryptocurrency rose by 10 % late Thursday afternoon.
According to a press release from Calamos, the fund offers access to Bitcoin in a risk -controlled environment.
“Due to the enormous volatility, many investors hesitated to invest in Bitcoin,” said Kaufman in the press release. “Calamos endeavors to meet the demand from consultants, institutions and investors for solutions that use Bitcoin's growth potential and at the same time reduce the historically high volatility and the declines of this rapidly growing and powerful financial value.”
Calamos has further cryptofonds on board. According to the Calamos website, Calamos Bitcoin Bitcoin 90 Series Structured Alt Protection ETF (CBXJ) and the Calamos Bitcoin 80 Series Structured Alt Protection ETF (CBTJ) are to be launched.
“You won't see any meme coin ETFs from Calamos”
Despite the company's interest in offering cryptocurrency funds, Kaufman told “Etf Edge” that there is a group that will not be considered.
“You won't see any meme coin ETFs from Calamos. But the possibility of accessing Bitcoin in a way that corresponds to their risk tolerance, that's what we are doing, ”said Kaufman.