Animal Spirits Podcast

Talk Your Book: Bitcoin for Anyone

31 snips
Feb 3, 2025
Matt Kaufman, SVP and Head of ETFs at Calamos Investments, shares his expertise in Bitcoin-related ETFs and structured investment strategies. He discusses innovative Bitcoin protection ETFs that provide downside safeguards while limiting upside potential. The conversation also covers how tax efficiency and protective measures attract conservative investors. Kaufman highlights the evolving Bitcoin options market and the significance of integrating Bitcoin into investment portfolios for optimized client growth, all while managing volatility.
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INSIGHT

Bitcoin ETF as Cash Alternative

  • The Calamos Bitcoin Structured All Protection ETF offers 100% downside protection with capped upside.
  • It targets investors seeking a cash-like strategy rather than pure Bitcoin exposure.
INSIGHT

ETF Mechanics

  • The ETF achieves protection using zero-coupon treasury bonds and a Bitcoin call spread.
  • If Bitcoin declines, the call spread expires worthless, leaving the principal protected by bonds.
ADVICE

Use Cases for the ETF

  • Consider this ETF for conservative allocations or to enhance portfolio growth potential.
  • It offers a potentially higher return than cash with no downside risk.
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