Earlier this year, Calamos made its start in Crypto with the launch not one but three funds designed to protect investors from the Volatility of Bitcoin Price (BTC).
But the World Investment Management Company, which manages $ 41.3 billion in assets, is far from launching other products beyond Bitcoin, – even Ethereum (ETH), said that its chief of ETF Matt Kaufman in an interview with Coindesk.
Since their creation, funds protected by Calamos BTC have attracted more than $ 100 million in investors, who mainly include financial advisers.
For most companies that seek to enter the cryptography market, the launch of a Bitcoin product is only the first step in a long journey that quickly extends to products based on Ethereum. Blackrock, for example, applied himself to launch his Bitcoin Etf (Ibit) spot in June 2023 and five months later, did the same for Ethereum (ETH).
“Ethereum does not really meet our criteria to be able to effectively cover this exhibition,” he said. “It is not a liquid asset, there are no options on Ethereum ETPS, so if these boxes are starting to be built, we will explore it, but at the moment, it’s not on our radar.”
Calamos Bitcoin Structured Alt ETF Protection (CBOJ), Calamos Bitcoin 90 Structured series ALT Protection ETF (CBXJ) and Calamos Bitcoin 80 Structured series Alt ETF (CBTJ) offer investors 80-100% downward protection with a rate of hood capuchon of 10-55%.
This is done using a combination of treasury bills and options on the ETF CBOE Bitcoin US index. While CBOE Exchange has filed lists of options related to ETF Ether, Securities and Exchange Commission (SEC) in January delayed its deadline to approve or refuse the product. However, the Commission will have to stick to the final deadline in May.
Another asset class that Calamos will probably never touch is coins, Kaufman said. “We are a risk manager, so we build things we know will work,” he said. “From this point of view, I have no opinion on the coins but it is not something that I would never do.”
Kaufman believes that the recent increase in applications of FNB Same Coin highlights the fact that investors must make their reasonable diligence. “We live in America, you need to know what you have. Liberty gives you the choice and with the choice comes the responsibility,” he said.
