Calamos Investments CEO on Protected Bitcoin ETFs and Auto-Callable Products

Protected Bitcoin Investment Offerings

• 💡 Calamos Investments has launched the first 100% protected Bitcoin ETF, offering investors a way to participate in Bitcoin's upside while shielding their principal.
• 🎯 The product structure provides a percentage of the cap rate for upside participation and protects the principal as long as the investment is held for the year and rolls over.
• 📈 Variations include 90% protected with higher upside potential (north of 24%) and 80% protected with upside in the low 40% range.
• ⚠️ This product is designed for investors, particularly older individuals, who are concerned about Bitcoin's volatility but still want exposure to its historical performance.

Bitcoin Market and Growth Potential

• 🚀 Bitcoin has been the number one performing asset over the last 14 years, despite its volatility.
• 🌎 Currently, only about 14% of the US population and 6% globally have invested in Bitcoin, indicating significant room for growth.
• ✅ Calamos views this product as an entry point or on-ramp for less risk-averse investors as Bitcoin becomes more mainstream.

Auto-Callable Products and Democratization

• 🧩 Calamos, with nearly 50 years of experience in risk management, is also launching auto-callable products in an ETF format, previously only accessible to high-net-worth individuals.
• 💰 These structured products, with JP Morgan as a swap partner and MCU providing the index, offer a monthly coupon (launched at 14.7%) and are diversified across over 52 auto-callable notes.
• ⚠️ The primary risk is if the equity market falls by more than 40%, which could impact the coupon and potentially the principal.
• 🤝 The goal is the democratization of financial products, making sophisticated investment tools like auto-callables available to everyday investors and financial advisors through an ETF structure.