Filling the spot left by the delisting of the popular Credit Suisse VelocityShares leveraged oil exchange traded notes, ProShares has partnered with UBS ETRACS to launch their own triple leveraged long and short crude oil ETNs.

On Thursday, UBS and ProShares rolled out the UBS ETRACS – ProShares Daily 3x Long Crude ETN (NYSEArca: WTIU) and UBS ETRACS – ProShares Daily 3x Inverse Crude ETN (NYSEArca: WTID). WTIU has a 1.45% expense ratio and WTID has a 1.85% expense ratio.

“We are pleased to work with UBS, a leading provider of ETNs, to bring these new exchange traded products to market,” Steve Cohen, managing director of ProFunds Distributors, Inc., the marketing agent for the ETNs, said in a note. “These ETNs offer investors new tools to manage risk and potentially enhance returns.”

The new ETNs will help fill in a void left by the delisting of popular VelocityShares 3x Long Crude ETN (NYSEArca: UWTI) and VelocityShares 3x Inverse Crude (NYSEArca: DWTI). Credit Suisse AG, the underwriting bank for the two ETNs, delisted and suspended further issuance of the two leveraged ETNs effective December 9. The two ETNs remain outstanding, but they will only trade on an over-the-counter basis.

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