# CBTA (Calamos Bitcoin 80 Series Structured Alt Protection ETF - April)

Calamos · Buffer ETFs · data as of Sep 12, 2026

As of Sep 12, 2026, CBTA sits between its buffer and its cap, with Bitcoin up 8.6% since the period began.

## Key facts

- CBTA, fall before the buffer: 25.9%, as of Sep 12, 2026.
- CBTA, protection left, index points: 79.8%, as of Sep 12, 2026.
- CBTA, days to reset: 231, as of Sep 12, 2026.
- CBTA, net assets: $5m (source, as filed for Apr 30, 2026).
- CBTA, expense ratio: 0.69% (issuer page, Sep 12, 2026).
- CBTA, reference index: Bitcoin, as of Sep 12, 2026.

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | Bitcoin | ETFIQ |
| Buffer | 20% to 100% | ETFIQ |
| Outcome period | Apr 8, 2026 to May 1, 2027 | ETFIQ |
| Starting cap | +37.6% | ETFIQ |
| Bitcoin return since period start | +8.6% | ETFIQ |
| Fund return since period start | +7.7% | ETFIQ |
| Net assets | $5m | source, as filed for Apr 30, 2026 |
| Band state today | Open | ETFIQ |
| Can still gain | not published | issuer, fund price |
| Fall before buffer | 25.9% | issuer, fund price |
| Fall to the buffer in index terms | 26.5% | ETFIQ |
| Protection left in index points | 79.8% of 79.8% | ETFIQ |
| Days left in period | 231 | ETFIQ |
| Expense ratio | 0.69% | issuer page, Sep 12, 2026 |

## Questions

### How far can CBTA fall before the buffer helps?

25.9% in fund-price terms on Sep 12, 2026, by the issuer's figure. In index terms Bitcoin can fall 26.5% from that level before the buffer begins. Losses until that point are the holder's.

### How much of the CBTA buffer is left?

79.8% of the 79.8% buffer sat below the Bitcoin level on Sep 12, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does CBTA reset?

The outcome period ends on May 1, 2027, 231 days from the data on Sep 12, 2026. A new cap is set the next day and the buffer starts again.

### What does CBTA cost?

The prospectus expense ratio is 0.69% a year.


## Cite this page

ETFIQ, CBTA, data as of Sep 12, 2026. https://etfiq.com/funds/CBTA
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/CBTA  ·  JSON: https://etfiq.com/funds/CBTA.json