Janus’s (JNS) VelocityShares will release two new leveraged long and short funds designed to track changes in WTI future prices. The new funds will be called VelocityShares 3x Long Crude Oil ETN (UWT) and VelocityShares 3x Inverse Crude Oil ETN (DWT).

The ETF-issuer recently delisted its VelocityShares 3x Long Crude Oil ETN (UWTI) and VelocityShares 3x Short Crude Oil ETN (DWTI). Leveraged ETFs have faced rising pressure from the Securities and Exchange Commission, which is attempting to reign in highly leveraged trading in the marketplace. (See also: Leveraged Oil ETFs Face Delisting.)

Leveraged ETFs are used for short-term trading and lose most of their value over time as a result of leverage decay. Both UWTI and DWTI lost 99% of their value from the time of their listing to their delisting. (See also: The Risk of Investing in Inverse ETFs.)

Janus has stressed the value and convenience of these leveraged ETFs for short-term speculators and traders who wish to use them instead of investing in WTI futures directly.

“For years we have worked with sophisticated investors who want to utilize daily trading tools to manage their oil exposure, and we are pleased to be launching these new ETNs to continue to service our clients,” said Nick Cherney, senior vice president, head of exchange products for Janus Capital Group.

UWT and DWT will both by issued by Citigroup (C) Global Markets Holdings and will represent the first partnership between Citigroup and VelocityShares. Previously, CreditSuisse (CS) had worked with Janus to release UWTI and DWTI.

Janus has not announced when the new funds will begin trading.