# CBTY (Calamos Bitcoin 80 Series Structured Alt Protection ETF - July)

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

As of Sep 12, 2026, CBTY's buffer is absorbing losses, with 79.9% of 79.9% points still beneath Bitcoin.

## Key facts

- CBTY, fall before the buffer: 27.5%, as of Sep 12, 2026.
- CBTY, protection left, index points: 79.9%, as of Sep 12, 2026.
- CBTY, days to reset: 322, as of Sep 12, 2026.
- CBTY, net assets: $13m (source, as filed for Apr 30, 2026).
- CBTY, expense ratio: 0.69% (issuer page, Sep 12, 2026).
- CBTY, 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 | Jul 8, 2026 to Jul 31, 2027 | ETFIQ |
| Starting cap | +37.9% | ETFIQ |
| Bitcoin return since period start | +24.1% | ETFIQ |
| Fund return since period start | +10.3% | ETFIQ |
| Net assets | $13m | source, as filed for Apr 30, 2026 |
| Band state today | Open | ETFIQ |
| Can still gain | not published | issuer, fund price |
| Fall before buffer | 27.5% | issuer, fund price |
| Fall to the buffer in index terms | 35.6% | ETFIQ |
| Protection left in index points | 79.9% of 79.9% | ETFIQ |
| Days left in period | 322 | ETFIQ |
| Expense ratio | 0.69% | issuer page, Sep 12, 2026 |

## Questions

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

27.5% in fund-price terms on Sep 12, 2026, by the issuer's figure. In index terms Bitcoin can fall 35.6% from that level before the buffer begins. Losses until that point are the holder's.

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

79.9% of the 79.9% 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 CBTY reset?

The outcome period ends on Jul 31, 2027, 322 days from the data on Sep 12, 2026. A new cap is set the next day and the buffer starts again.

### What does CBTY cost?

The prospectus expense ratio is 0.69% a year.


## Cite this page

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

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