Calamos比特幣（BTC）結構化輸出保護ETF

今年早些時候，Calamos首次亮相了加密貨幣，而不是啟動三個資金，旨在保護投資者免受比特幣（BTC）價格的波動。

Earlier this year, Calamos made its crypto debut with the launch of not one but three funds designed to protect investors from the volatility in bitcoin's (BTC) price.

今年早些時候，Calamos首次亮相了加密貨幣，而不是啟動三個資金，旨在保護投資者免受比特幣（BTC）價格的波動。

The global investment management firm, which handles $41.3 billion in assets, is far from launching any other products beyond bitcoin,—even Ethereum (ETH), said its head of ETFs Matt Kaufman in an interview with CoinDesk.

這家處理413億美元資產的全球投資管理公司與比特幣以外的任何其他產品（甚至是Ethereum（ETH））遠不遠，其ETFS Matt Kaufman負責人在接受Coindesk的採訪中。

Since their inception, Calamos' protected BTC funds have attracted over $100 million from investors, which primarily include financial advisors.

自成立以來，Calamos受保護的BTC資金吸引了超過1億美元的投資者，其中主要包括財務顧問。

For most firms looking to make an entrance into the crypto market, launching a bitcoin product is just the first step in a long journey that quickly extends to ethereum-based products. BlackRock, for example, applied to launch its spot bitcoin ETF (IBIT) in June 2023 and five months later, did the same for Ethereum (ETH).

對於大多數希望進入加密貨幣市場的公司而言，推出比特幣產品只是漫長旅程的第一步，它迅速擴展到基於以太坊的產品。例如，貝萊德（BlackRock）在2023年6月和五個月後申請了其現貨比特幣ETF（IBIT），對以太坊（ETH）也是如此。

"Ethereum doesn't really meet our criteria for being able to effectively hedge that exposure," he said. "It's not a liquid asset, there's no options on Ethereum ETPs so if those check boxes start to get built, we'll explore it but right now it's not on our radar."

他說：“以太坊並沒有真正符合我們能夠有效對沖這種曝光的標準。” “這不是流動資產，以太坊ETP上沒有選擇，因此，如果這些複選框開始建造，我們將探索它，但現在不在我們的雷達上。”

The Calamos Bitcoin Structured Alt Protection ETF (CBOJ), Calamos Bitcoin 90 Series Structured Alt Protection ETF (CBXJ) and Calamos Bitcoin 80 Series Structured Alt Protection ETF (CBTJ) offer investors 80-100% downside protection with an upside cap rate of 10-55%.

CALAMOS比特幣結構化ALT保護ETF（CBOJ），CALAMOS比特幣90系列結構性ALT Protection ETF（CBXJ）和Calamos Bitcoin 80系列結構性ALT Protection ETF（CBTJ）為投資者提供80-100％的下行保護率，上行上限率為10-55％。

This is achieved by using a combination of Treasuries and options on the CBOE Bitcoin US ETF Index. While Cboe Exchange has filed to list options tied to Ether ETFs, the Securities and Exchange Commission (SEC) in January delayed its deadline to approve or deny the product. The Commission will have to stick to the final deadline in May, however.

這是通過在CBOE比特幣US ETF指數上使用國庫和選項的組合來實現的。儘管CBOE Exchange已申請列出與Ether ETF相關的期權，但1月份的證券交易委員會（SEC）推遲了其批准或拒絕該產品的截止日期。但是，委員會將不得不在5月的最後截止日期之前堅持。

Another asset class that Calamos won't likely ever touch is meme coins, Kaufman said. "We're a risk manager, so we build things we know will work," he said. "From that perspective, I don't have any opinion on meme coins but it's not something I would ever do."

考夫曼說，卡拉莫斯可能永遠不會觸摸的另一種資產類是模因硬幣。他說：“我們是一名風險經理，所以我們要建造我們知道的事情。” “從這個角度來看，我對模因硬幣沒有任何意見，但這不是我會做的。”

Kaufman believes that the recent surge in applications for meme coin ETFs highlights the fact that investors have to do their due diligence.

考夫曼（Kaufman）認為，最近在模因硬幣ETF申請的激增強調了投資者必須進行盡職調查的事實。

"We live in America, you have to know what you own. Freedom gives you choice and with choice comes responsibility," he said.

他說：“我們住在美國，你必須知道自己擁有的東西。自由為您提供了選擇，並且選擇責任。”