VelocityShares 3x Inverse Crude Oil ETN (DWT)

[Smittle]

This filing is that it’s only for a 3x daily leveraged fund—the equivalent of UWTI.

It’s (Oddly) Only One Direction

Perhaps the most curious thing about this filing is that it’s only for a 3x daily leveraged fund—the equivalent of UWTI. On the one hand, this makes sense, since UWTI is the fund that had the most assets. But on the other hand, there’s really no difference between being a buyer and a seller of a futures contract. An inverse version of this new fund would look, essentially, exactly like this one, but for a few minus signs and a sentence or two of language.

http://www.etf.com/sections/blog/new-leveraged-oil-fund-replacement-coming?nopaging=1