Grayscale has officially filed a registration statement with the US Securities and Exchange Commission to launch a spot Worldcoin ETF, trading on Nasdaq under the ticker GWLD. The proposal sent WLD up by approximately 4.5% to $0.37.
According to the prospectus, the Grayscale Worldcoin ETF would hold WLD directly, tracking its value through the CoinDesk Worldcoin Benchmark Rate. The fund is designed as a passive vehicle that does not use leverage or derivatives, and its shares would allow investors to gain exposure to the token without buying or storing it themselves. Authorized participants would create or redeem shares in blocks of 10,000 (baskets), using either WLD or cash orders processed via liquidity providers.
BitGo Bank & Trust is named as custodian, while The Bank of New York Mellon would serve as administrator and transfer agent, and CSC Delaware Trust Company as trustee. However, several terms remain incomplete; Grayscale left blank the seed investment amount and the WLD quantity per share, with later amendments expected to fill in these details. The ETF will require both SEC approval and a Nasdaq listing, including a 19b-4 rule change.
WLD is the native token of World Network (formerly Worldcoin), a digital identity project co‑founded by Sam Altman and Alex Blania. The network uses Orb devices that scan irises for its proof‑of‑personhood system, World ID, and operates the World App and the Ethereum layer‑2 World Chain. As of June 30, about 3.5 billion WLD were in circulation, with a combined market value of roughly $1.4 billion and daily volume of $135.1 million—making it the 41st‑largest crypto asset at the time. However, the token remains about 97% below its March 2024 all‑time high of $11.80.
The filing highlights substantial risks, including regulatory actions against the project’s biometric data collection in countries such as Spain, Portugal, Germany, Hong Kong, Brazil, Kenya, and Indonesia. The prospectus also warns of World Chain’s centralized sequencer, WLD’s extreme price volatility, and the possibility that regulators could classify the token as a security. Additionally, on‑chain data shows that the top 100 wallets control approximately 90% of circulating WLD, with team and investor unlocks continuing until July 2028. Grayscale cautions that an adverse regulatory decision could force the trust to close.
Technically, WLD bounced from the $0.353 support area and broke above a descending channel on the four‑hour chart. The RSI recovered to near neutral (49.59) and the MACD histogram turned positive, though no strong bullish confirmation has emerged. Immediate resistance stands at $0.3796; a sustained move beyond that could target $0.3876 and higher.
