| Investment Objective: |
Calamos Bitcoin Structured Alt Protection ETFs are designed to match the positive price return of the CME CF Bitcoin Reference Rate - New York Variant ("BRRNY") ("Spot bitcoin") up to a defined cap, with specific levels of downside protection, over a one-year period (before fees and expenses). The Fund seeks to achieve its investment objective through investments in over-the-counter Options ("OTC Options") and/or, if and when available, FLexible EXchange Options ("FLEX Options") and/or listed exchange traded options ("Listed Options"). The FLEX Options and/or Listed Options will each reference the price performance of (A) one or more of the iShares Bitcoin Trust ETF (IBIT), Grayscale Bitcoin Mini Trust ("BTC"), Bitwise Bitcoin ETF ("BITB"), Fidelity Wise Origin Bitcoin Fund ("FBTC") and ARK 21 Shares Bitcoin ETF ("ARKB") which, in turn, own bitcoin that is held by a bitcoin custodian in each instance on behalf of the respective Underlying ETPs and/or (B) one or more indexes that are designed to track the price of bitcoin ("Bitcoin Index") up to a cap of % (the "Cap"), while seeking to provide a Floor with protection against a loss exceeding 10% of the negative price return of Spot bitcoin, over the Outcome Period for the period from July 1, 2025 through June 30, 2026. |
