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- The proposed fund will hold WLD tokens directly and will be listed on the Nasdaq under the ticker GWLD.
- Grayscale opted for regular Nasdaq listings, an option that would shorten the review process.
- The selection reflects the regulatory review around the World Network and the risk of the content of the tokens.
- WLD took off following the announcement but is still below its record.
The ETF tracks the value of Worldcoin directly
According to the S-1 registration statementThe proposed ETF will hold Worldcoin (WLD) and track its performance using the CoinDesk Worldcoin Benchmark Rate, excluding fees and expenses. The fund may not use leverage, derivatives or multiple management.
If approved, the transaction will depend on several financial institutions:
- Ticker: The value of GWLD
- Exchange: Nasdaq
- Supervisor: BitGo Bank & Trust
- Manager and sender: BNY Mellon
- Helper: CSC Delaware Trust Company
Grayscale established a Delaware statutory trust on July 10 before filing its registration statement with the SEC on July 20.
Instead of seeking to change the exchange’s rules, the asset manager listed them in accordance with Nasdaq’s rules, an approach that would reduce the time required for regulatory review. The initial prospect leaves a lot to be finalized through future changes, including the management fee, seed price and share-to-token ratio.
Risk Prospectus Global Risk Network
The registration statement focuses on the risks posed by the World Network ecosystem.
Among them is the continuous monitoring of the biometric identity verification system, which uses Orb devices to scan users’ irises. The filing shows that authorities in Germany, Spain, Portugal, Brazil, Hong Kong, Kenya and Indonesia have imposed restrictions, launched investigations or temporarily suspended the service.
Grayscale also points to token stability as a potential risk. According to the forecast, about 90% of the WLD circulation is controlled by a small group of wallets, while the opening of tokens to early investors and project backers is expected to continue in the middle of 2028, and to increase in the future.
The filing comes as issuers continue to expand the number of cryptocurrency trading products available to US investors following regulatory approvals. Bitcoin and Ethereum ETFs. The successful Worldcoin ETF will be another step in bringing digital assets into the investment vehicle.
The Technical Picture Grows, But Resistance Remains
The listing of the ETF contributed to a short-term recovery in WLD, with the index rising about 3.5%-4.5% to trade at around $0.38.
The move pushed the price above its 20th moving average on the four-hour chart, a level that has recently served as nearby support.
Momentum indicators were also strengthened. The Relative Strength Index (RSI) rose again to around 55, recovering from the lows seen earlier in the week and showing renewed buying interest without entering overbought territory.
Despite the resurgence, the broader tech picture remains mixed. WLD continues to trade below the 50-period moving average of $0.389, while the 100-period ($0.394) and 200-period ($0.448) moving averages remain very high. Those parts can be like resistance if the meeting is getting bigger.
A steady move above the 50-time moving average may be the first sign that the short-term trend is changing in favor of buyers. A move above the 100-time level could reinforce that sentiment, while a retracement of the 200-time level could signal a major reversal after several weeks of bearish activity.
At this point, the recent decline appears to reflect a positive correction in the ETF’s pursuit of holdings rather than a long-term reversal. The price remains below the levels at which WLD traded earlier this year, leaving buyers with a number of technical issues before a recovery is established.
