WLD has climbed about 4.5% to $0.37 after Grayscale filed with the US Securities and Exchange Commission to launch an ETF holding the World Network token directly.
Summary
- Grayscale has filed to list a spot Worldcoin ETF on Nasdaq under GWLD.
- WLD gained 4.5% and broke above a descending channel on the four-hour chart.
- Regulatory concerns over biometric data and WLD’s status remain key risks.
According to Grayscale’s registration statement, the proposed Grayscale Worldcoin ETF would trade on Nasdaq under the ticker GWLD and offer investors exposure to WLD without requiring them to buy or store the token.
The fund’s shares would follow the value of its WLD holdings through the CoinDesk Worldcoin Benchmark Rate. Fees and operating expenses would be deducted from the value of the trust, although Grayscale has not disclosed the management fee.
Several other terms also remain open. Grayscale left blank the initial seed investment and the quantity of WLD represented by each share, indicating that later amendments to the prospectus will add those details.
If approved, GWLD would become a passive investment vehicle with WLD as its only principal asset. Grayscale’s filing states that the trust would not use leverage or derivatives, limiting its activity to holding the token and processing share creations and redemptions.
GWLD would give investors direct WLD price exposure
Under the proposed structure, authorized participants would create or redeem shares in blocks of 10,000, which the filing calls baskets. Participants could complete those transactions by delivering WLD or through cash orders handled with the help of liquidity providers.
BitGo Bank & Trust would hold the trust’s WLD assets, according to the registration statement. The Bank of New York Mellon would act as administrator and transfer agent, while CSC Delaware Trust Company would serve as trustee.
Grayscale has presented the fund as a way for shareholders to gain WLD exposure through a traditional brokerage account. Investors would therefore avoid the technical steps involved in opening a crypto wallet, securing private keys, and trading the token on a digital-asset platform.
The filing does not guarantee that the SEC will approve the product or that Nasdaq will list its shares. Because the document is a registration statement with incomplete terms, Grayscale may need to submit amendments before regulators can allow the ETF to begin trading.
WLD serves as the native token of World Network, a digital identity project first developed by Tools for Humanity. Sam Altman and Alex Blania founded the company behind the project, which was previously known as Worldcoin.
World Network includes World ID, a proof-of-personhood system designed to confirm that a user is a unique human. Its other products include the World App, the Ethereum layer-2 network World Chain and Orb devices that use iris images during identity verification.
As of June 30, roughly 3.5 billion WLD tokens were in circulation, according to figures included in Grayscale’s prospectus. Their combined market value stood at approximately $1.4 billion, while the token recorded daily trading volume of $135.1 million.
Those figures placed WLD as the 41st-largest crypto asset by market capitalization at the time of the filing. The data also showed that the proposed fund would track an asset with substantially lower market value and trading activity than tokens such as Bitcoin and Ethereum.
WLD has broken above its four-hour falling channel
Following news of the filing, Worldcoin (WLD) advanced about 4.5% to $0.37. The token nevertheless remained nearly 97% below its March 2024 record high of $11.80.
On the four-hour chart supplied through TradingView, WLD was trading around $0.377 after rebounding from the $0.353 support area. Price also moved above the upper boundary of a descending channel, indicating that selling pressure has started to ease.
TradingView’s Fibonacci levels place immediate resistance at $0.3796. A sustained move above that barrier could expose $0.3876, followed by $0.3957 and $0.4057.
Below the current price, the chart identifies $0.3681 as the closest support. Losing that level could send WLD back toward $0.3534, where buyers recently stopped the decline.
Momentum readings have also improved, although they do not yet confirm a strong bullish trend. The four-hour relative strength index stood at 49.59, up from its moving average of 38.09 and close to the neutral 50 level.
TradingView’s MACD line remained below zero at -0.0057 but had crossed above its -0.0073 signal line. The positive 0.0016 histogram suggests bearish momentum is fading as WLD tests the $0.3796 resistance.
Grayscale’s prospectus identified biometric data collection as a central product risk because World Network relies on iris imaging through its Orbs. According to the filing, the project has faced regulatory restrictions, enforcement measures and court rulings in several jurisdictions over its biometric practices.
The registration statement also pointed to World Chain’s centralized sequencer, sharp WLD price swings and possible securities-law treatment as material risks. Grayscale warned that an adverse regulatory decision involving WLD or related transactions could reduce the token’s value or require the trust to close.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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