Calamos reports $10 million to $15 million in inflows to its downside-protected Bitcoin ETFs as spot Bitcoin ETFs face redemptions.
Calamos is attracting investor interest in its protected Bitcoin ETFs despite $1 billion in outflows from spot Bitcoin ETFs last week. The firm said inflows into its products reached roughly $10 million to $15 million over recent weeks, driven by demand for reduced volatility and downside risk.
The ETFs use Treasuries and Bitcoin-linked options to offer varying levels of downside protection, including full protection or limits of 10% to 20%. Calamos allocates about 90% of assets into Treasuries, with the remainder used for Bitcoin-linked call spreads via FLEX options tied to its proprietary index.
Wealth managers are increasingly seeking Bitcoin exposure with built-in risk mitigation, according to the firm. The products are structured in quarterly and laddered formats to suit different portfolio strategies.