Earlier this year, Calamos made its cryptographic debut with the launch of not one but three funds designed to protect volatility investors in the price of Bitcoin (BTC).
But the global investment management firm, which manages $ 41.3 billion in assets, is far from launching other products beyond Bitcoin, even Ethereum (Etheum (ETH), said his head of ETFs Matt Kaufman in an interview with COINDESK.
Since its inception, the BTC funds protected from calamos have attracted more than $ 100 million of investors, which mainly include financial advisors.
For most companies that seek to make an entrance to the encryption market, launch a Bitcoin product is only the first step on a long trip that quickly extends to the headquarters in Ethereum. Blackrock, for example, requested to launch its Spot Bitcoin ETF (Ibit) in June 2023 and five months later, did the same for Ethereum (ETH).
“Ethereum does not really meet our criteria to effectively cover that exhibition,” he said. “It is not a liquid asset, there are no options in Etps Ethereum, so if those verification boxes begin to be built, we will explore it, but at this time it is not in our radar.”
The structured Alt protection ETF of Bitcoin calamos (CBOJ), the structured ALT protection ETF of the Series Bitcoin 90 (CBXJ) series and the ETF of structured ALT protection of the series CALLOS BITCOIN 80 offer investors 80-100% downward protection with a 10-55% rise cover rate.
This is achieved by using a combination of treasure bonds and options in the ETF index of CBOE Bitcoin US. Although CBOE Exchange has presented to the list options linked to ETHT ETFS, the Bag and Securities Commission (SEC) in January delayed its deadline to approve or deny the product. However, the Commission will have to comply with the final deadline in May.
Another kind of assets that we will probably don’t touch are meme coins, Kaufman said. “We are a risk manager, so we build things that we know will work,” he said. “From that perspective, I have no opinion about Memes currencies, but it’s not something I would.”
Kaufman believes that the recent increase in applications for ETFs of Memes coins highlights the fact that investors have to do their due diligence. “We live in the United States, you should know what you have. Freedom gives you option and with the option comes responsibility,” he said.
