The laddered structure allows for diversified risk management across varying protection levels, making the ETFs model-portfolio friendly and reducing market timing risk.

Calamos Investments (Calamos) has launched a suite of l addered B itcoin s tructured a lt p rotection ETFs, which comprise  CBOL, CBXL, and CBTL offering 100%, 90%, and 80% downside protection, respectively.   These ETFs are designed to provide investors with continuous exposure to B itcoin while mitigating risk through structured protection. Each fund comprises underlying protected B itcoin ETFs, with a blended cap rate based on current weightings. All three ETFs reference the CBOE B