- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 2020 Calamos Court Naperville IL United States of America 60563
- IPO Date
- Feb 4, 2025
- Business
- Calamos Bitcoin 90 Series Structured Alt Protection ETF - January (CBXJ) is an actively managed exchange-traded fund issued by Calamos Investments LLC that seeks to match the positive price return of bitcoin, as represented by the CME CF Bitcoin Reference Rate - New York Variant, up to a defined cap while limiting maximum loss to 10% over a one-year outcome period before fees and expenses. The fund is part of Calamos’ structured protection ETF suite and uses U.S. Treasury securities, cash and cash equivalents, and options-based strategies, including OTC options and listed options linked to bitcoin-related reference assets, to deliver capped upside participation with downside protection.
Calamos Investments is a diversified global investment firm founded in 1977 and headquartered in Naperville, Illinois, in the Chicago metropolitan area, with additional offices in Chicago, New York, San Francisco, Milwaukee, Portland, and the Miami area. The firm offers investment strategies across alternatives, multi-asset, convertible, fixed income, and equity through separately managed portfolios, mutual funds, closed-end funds, private funds, UCITS funds, and ETFs, serving individual investors, financial professionals, institutions, and other client groups.
CBXJ launched on February 4, 2025, and as of mid-September 2026 had total net assets of about $18.3 million, an annual expense ratio of 0.69%, and traded on Cboe BZX Exchange under ticker CBXJ. The fund’s current outcome period runs from February 2, 2026 to January 30, 2027, with a current cap rate of about 26.21% gross and 25.95% net, and current protection of about 92.86% gross and 92.60% net based on the fund’s published outcome data.
In recent developments, Calamos has continued expanding its structured protection ETF platform, including the launch and listing of additional bitcoin protection share classes such as the CBXJ family and the October, April, and laddered variants, reinforcing its broader push into defined-outcome bitcoin strategies. Calamos also reported recent ETF-platform growth across 2026, including new product launches in adjacent structured and autocallable ETF strategies, underscoring an active product-expansion campaign within its alternatives and income-oriented ETF businesses.