Earlier this year, Calamos made its crypto debut on Launch of not one but three funds designed to protect investors from volatility to bitcoin price (BTC).
But the global Firm Management Management, which holds $ 41.3 billion in property, is far from launching any other product beyond Bitcoin, – even Ethereum (ETH), ETF leader Matt Kaufman said in a coindesk interview.
Due to their start, the protected BTC funds of Calamos attract more than $ 100 million from investors, who are mainly with financial counselors.
For most companies looking to make an entrance to the crypto market, the launch of a bitcoin product is the first step just on a long journey that quickly reaches Ethereum -based products. For example, the Blackrock, which was applied to launch the Bitcoin ETF (IBIT) area in June 2023 and five months later, did the same for the Ethereum (ETH).
“Ethereum does not really meet our standard of effective hedge that exposure,” he said. “This is not a liquid owner. There are no Ethereum ETPS options so if the check boxes start to form, we will explore it but now it’s not on our radar.”
Calamos Bitcoin structured Alt Protection ETF (CBOJ), Calamos Bitcoin 90 series structured Alt Protection ETF (CBXJ) and Calamos Bitcoin 80 Series Structured Alt Protection ETF (CBTJ) offers investors 80-100% downside protection with an upside down rate of 10-55% cap of 10-5%.
This is achieved by using a combination of wealth and CBOE Bitcoin US ETF index options. While the CBOE Exchange filed to list the options tied to the Ether ETF, the Securities and Exchange Commission (SEC) in January delayed its deadline to approve or deny the product. The commission needs to stick to the final time of May, however.
Another class of possession that Calamos is not likely to handle is the meme coin, Kaufman said. “We are a risk manager, so we build things we know will work,” he said. “From that point of view, I have no opinion on coin memes but this is not something I do.”
Kaufman believes that recently climbing applications for meme coin ETFs features the fact that investors need to do their right diligence. “We live in America, you need to know what you are doing. Freedom gives you the choice and has a choice,” he said.
