# CBTJ (Calamos Bitcoin 80 Series Structured Alt Protection ETF - January)

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

As of Sep 12, 2026, Bitcoin is down 1.9% and CBTJ's protection has not yet begun.

## Key facts

- CBTJ, fall before the buffer: 15.9%, as of Sep 12, 2026.
- CBTJ, protection left, index points: 79.7%, as of Sep 12, 2026.
- CBTJ, days to reset: 140, as of Sep 12, 2026.
- CBTJ, net assets: $22m (source, as filed for Apr 30, 2026).
- CBTJ, expense ratio: 0.69% (issuer page, Sep 12, 2026).
- CBTJ, 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 | Feb 2, 2026 to Jan 30, 2027 | ETFIQ |
| Starting cap | +37.2% | ETFIQ |
| Bitcoin return since period start | −1.9% | ETFIQ |
| Fund return since period start | −5.2% | ETFIQ |
| Net assets | $22m | source, as filed for Apr 30, 2026 |
| Band state today | Open | ETFIQ |
| Can still gain | not published | issuer, fund price |
| Fall before buffer | 15.9% | issuer, fund price |
| Fall to the buffer in index terms | 18.8% | ETFIQ |
| Protection left in index points | 79.7% of 79.7% | ETFIQ |
| Days left in period | 140 | ETFIQ |
| Expense ratio | 0.69% | issuer page, Sep 12, 2026 |

## Questions

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

15.9% in fund-price terms on Sep 12, 2026, by the issuer's figure. In index terms Bitcoin can fall 18.8% from that level before the buffer begins. Losses until that point are the holder's.

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

79.7% of the 79.7% 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 CBTJ reset?

The outcome period ends on Jan 30, 2027, 140 days from the data on Sep 12, 2026. A new cap is set the next day and the buffer starts again.

### What does CBTJ cost?

The prospectus expense ratio is 0.69% a year.


## Cite this page

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

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