CBXA
Calamos Bitcoin 90 Series Structured Alt Protection ETF - April
📎 Investment Objective
The Calamos Bitcoin 90 Series Structured Alt Protection ETF (CBXA) seeks to provide investors with exposure to the performance of Bitcoin, while also aiming to limit downside risk through the use of options-based strategies.
Overview
ETF tracking Calamos Bitcoin 90 Series Structured Alt Protection ETF - April
Performance
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Investment Summary
📎 Investment Objective
The Calamos Bitcoin 90 Series Structured Alt Protection ETF (CBXA) seeks to provide investors with exposure to the performance of Bitcoin, while also aiming to limit downside risk through the use of options-based strategies.
🎯 Investment Strategy
CBXA invests primarily in Bitcoin futures contracts and options on Bitcoin futures to gain exposure to the cryptocurrency market. The fund also utilizes a protective options overlay strategy to help mitigate potential losses during periods of significant Bitcoin price declines.
✨ Key Features
- Provides exposure to the Bitcoin market through futures and options contracts
- Employs an options-based strategy to help limit downside risk
- Aims to offer a more risk-managed approach to Bitcoin investment compared to direct cryptocurrency ownership
- Relatively new fund with limited performance history
⚠️ Primary Risks
- Cryptocurrency and Bitcoin futures market volatility and risk
- Potential for the options-based strategy to underperform during periods of rapid Bitcoin price appreciation
- Liquidity risks associated with the Bitcoin futures and options markets
- Counterparty risk related to the futures and options contracts
👤 Best For
CBXA may be suitable for investors seeking exposure to the Bitcoin market but with a desire for a more risk-managed approach. The fund may be of interest to investors with a medium to long-term investment horizon who are willing to accept the inherent volatility of the cryptocurrency market in exchange for the potential downside protection offered by the options overlay strategy.