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Calamos Investments to introduce a Bitcoin ETF with 100% downside protection

  • Calamos is launching a Bitcoin ETF with 100% downside protection named CBOJ in January.
  • The ETF combines Treasury bonds and Bitcoin options to mitigate investment risks.
  • CBOJ offers annual protection resets and caps potential gains for risk management.

Calamos Investments is set to launch a groundbreaking Bitcoin exchange-traded fund (ETF) offering 100% downside protection.

Scheduled to debut on the Chicago Board Options Exchange (CBOE) on January 22, the new ETF, named CBOJ, is designed to address Bitcoin’s volatility while providing growth opportunities, according to a company announcement.

Calamos’ Structured Protection ETF series

CBOJ builds upon the success of Calamos’ Structured Protection ETF series, introduced in 2024. This series provided similar downside protection mechanisms for stock indices like the S&P 500 and Nasdaq-100.

By extending these principles to Bitcoin, Calamos seeks to meet the demands of advisors, institutions, and investors looking for a way to capture Bitcoin’s growth potential while mitigating its historically high volatility.

Bitcoin has historically been a highly volatile asset, often deterring risk-averse investors. The CBOJ ETF aims to overcome this challenge by ensuring that investors do not lose money, even if Bitcoin’s value declines.

This innovative fund achieves downside protection by integrating US Treasury bonds with options tied to the CBOE Bitcoin US ETF Index. The combination provides a regulated and transparent avenue for gaining Bitcoin exposure while minimizing associated risks.

CBOJ ETF’s annual protection reset

One of the unique features of the CBOJ ETF is its annual reset of downside protection. Each year, investors benefit from a new cap on potential gains while maintaining full protection against losses for the next 12 months.

This structure ensures ongoing risk mitigation and aligns with the dynamic nature of the Bitcoin market.

“Many investors have been hesitant to invest in Bitcoin due to its epic volatility,” said Matt Kaufman, Head of ETFs at Calamos. “Calamos seeks to meet advisor, institutional, and investor demands for solutions that capture Bitcoin’s growth potential while mitigating the historically high volatility and drawdowns of the asset.”

ETFs are investment funds that trade like stocks on exchanges, allowing investors to pool their money into a fund holding various assets. With CBOJ, investors gain exposure to Bitcoin without the need to own the cryptocurrency directly. This protective structure makes the ETF especially appealing to cautious investors looking to navigate the crypto market’s notorious price swings.

As derivatives-based Bitcoin ETFs gain traction, industry reports suggest that more firms may follow Calamos’ lead in introducing similar solutions for risk-averse investors.

The post Calamos Investments to introduce a Bitcoin ETF with 100% downside protection appeared first on CoinJournal.

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Crypto trading firm GSR secures FCA approval

  • GSR has received a regulatory nod from the UK’s Financial Conduct Authority.
  • The cypto trading firm also holds a crypto license from the Singapore Monetary Authority.

GSR, a crypto trading firm and market maker, has received regulatory approval from Financial Conduct Authority (FCA), the financial markets regulator in the UK.

In a press release on Jan. 6, GSR said the regulatory approval means GSR Markets UK Limited is duly registered to conduct crypto related business in the country. It will support crypto trading in the UK, reaching both local/resident clients and across the globe.

GSR’s approval maps the firm as the first crypto liquidity provider to offer over-the-counter and crypto asset trading services.

According to the announcement, the firm seeks to expand its services delivery globally. This follows the firm’s milestone of having received regulatory nods from the two major crypto regulation jurisdictions.

GSR seeks global traction

Notably, Singapore’s Monetary Authority of Singapore granted regulatory approval to GSR as a crypto liquidity provider in April 2024. GSR is a Major Payment Institution licensed firm in Singapore.

The move for global regulatory approval aligns with GSR’s quest to offer its services alongside the standard principles of compliance and integrity – a top goal for company brand and image built over time.

GSR Group CEO Xin Song noted that the two global financial regulators’ approvals “marks a significant milestone in our mission to shape a more transparent, inclusive global crypto trading ecosystem.”

He confidently added that getting regulatory approvals from leading financial regulators makes the firm confident to expand on its services delivery to clients globally.

“By achieving approvals from two of the world’s leading financial regulators, the GSR Group can confidently expand our services to institutional and professional clients globally while continuing to uphold the integrity and high-quality service that we are known for,” the GSR Group chief executive added.

The post Crypto trading firm GSR secures FCA approval appeared first on CoinJournal.

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MicroStrategy adds $101m Bitcoin to holdings, now at 447,470 BTC

  • MicroStrategy buys another $101 million of Bitcoin.
  • Company’s holdings now stand at 447, 470 BTC.
  • KULR also announced it purchased $21 million worth of Bitcoin to add to its holdings.

MicroStrategy has added to its Bitcoin (BTC) haul with another big purchase of 1,070 BTC valued at approximately $101 million.

The company disclosed the latest Bitcoin purchase on Monday Jan. 6, noting the acquisition was at the average price of $94,004 per bitcoin. Buying happened between Dec. 30, 2024 and Jan. 5, 2025, the business intelligence firm said.

MicroStrategy completed the sale after finalizing the sale of 319,586 shares. With this purchase, the company’s remains with $6.77 billion shares – part of the targeted $21 billion equity and $21 billion fixed income securities – to be used for more Bitcoin purchases.

MicroStrategy’s Bitcoin strategy

Bitcoin price has risen in the past week, rising amid bullish sentiment ahead of Donald Trump’s inauguration. So far, MicroStrategy has acquired a staggering 447,470 BTC hodled at the purchase value of about $27.97 billion. As per current prices,the company’s total BTC bag is worth over $44 billion. 

The world’s largest corporate holder of Bitcoin has inspired several other publicly-traded companies to adopt BTC treasury strategies. It includes companies listed in the US, Hong Kong and Canada among others.

Notably, MicroStrategy bought its bitcoin at the average price of $62,503 per BTC.

One of these, KULR Technology Group, an energy management platform, has also announced on Jan.6 that it purchased another $21 million worth of BTC to bring its total to $42 million.

KULR, which began its Bitcoin treasury strategy in early December, 2024, acquired the latest BTC haul at the average price of $98,393.58 per bitcoin.

Bitcoin traded at around $99,194 at the time of writing, 1.5% up in the past 24 hours and nearly 6% up in the past week.

The post MicroStrategy adds $101m Bitcoin to holdings, now at 447,470 BTC appeared first on CoinJournal.