Asset management firm Calamos Investments announced that it has filed an application with the Securities Exchange Commission (SEC) to launch a bitcoin "structured protection (structured-protection) " ETF, which aims to use the options market to hedge up to 100% of the downside risk of bitcoin and provide investors with bitcoin investment opportunities to mitigate the impact of high volatility. Calamos currently manages assets of $40 billion and also submitted a bitcoin "buffer" ETF application in May this year.