Latest developments: Calamos says its protected Bitcoin ETFs are attracting inflows even as spot Bitcoin ETFs see redemptions.

• Matt Kaufman, head of ETFs at Calamos, said the firm saw roughly $10 million to $15 million in inflows over the past several weeks.
• Kaufman said advisors are increasingly looking for Bitcoin exposure that reduces volatility and downside risk.
• The firm offers three versions of its protected Bitcoin ETFs, including products with full downside protection and others with 10% or 20% downside risk.
• “You can get upside of Bitcoin with no downside risk,” Kaufman said.
• Kaufman joined CoinDesk’s Jennifer Sanasie on Public Keys.

How it works: Calamos structures the products using Treasuries and options tied to Bitcoin-linked…