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Hello and welcome to Markets Daily hosted by me, Jen Sanassi. On this show, we navigate the current shaping the crypto markets,

providing insights against the broader financial landscape. So whether you're actively trading

or simply interested in the volatility of the crypto markets, this show is your compass to

understanding what's happened, where we are, and where we're going. On today's show, we have

Calamos, head of ETF's Matt Kaufman. Matt, welcome.

Hey, Jen. Thanks for having me. Good to be here. Of course. Great to have you here.

Big news coming out of Calamos yesterday. You launched a new Bitcoin ETF that promises 100% downside protection. Let's just talk about what this means and how you can make that work.

Yeah, that's a lot to unpack.

A big statement, you know, being able to deliver 100% protection relative to the price of Bitcoin.

So yesterday, looking at my calendar here, January 22nd, we launched CBOJ, the world's first

protected Bitcoin ETF. So it gives you the upside of Bitcoin to a

cap rate. There's no free lunch here. And then you have 100% protection over a one-year outcome

period. So built fairly similar to an outcome-based ETF. If your listeners are familiar with those,

there's a couple hundred of those in

the market. And so we've now delivered what I would think is a very remarkable tool for

adding protection to your Bitcoin exposure. So we're excited about that. We just struck our cap rate as

well. That was last night. So now the cap rate we can announce that is 11.65%, which is

higher than you'll get in any other equity market when it comes to capital protected growth.

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