Asset Management Company Calamos Submits Application for Bitcoin "Buffered" ETF

Bloomberg ETF analyst Eric Balchunas stated that asset management company Calamos has submitted an application for a "buffered" Bitcoin ETF. This ETF seeks to provide 100% downside protection for Bitcoin, while capturing some of the upside using FLEX options. It is currently unclear whether this application is for a spot or futures type. Previously reported, on December 15, 2023, Bloomberg ETF analyst James Seyffart stated that First Trust had submitted an application to the U.S. Securities and Exchange Commission (SEC) for a "buffered" Bitcoin ETF (Buffer ETF). It is expected that other entrants in this field will adopt unique differentiation strategies to provide exposure to Bitcoin in the coming weeks.