Overview
- Grayscale filed a registration statement with the U.S. SEC on Monday to create a Nasdaq-listed spot ETF with the ticker GWLD that would hold WLD tokens directly and use the CoinDesk Worldcoin Benchmark Rate.
- The proposed trust would be a passive vehicle that does not use leverage or derivatives and would issue and redeem shares in 10,000-share baskets that authorized participants can create or redeem with WLD or with cash via liquidity providers.
- BitGo Bank & Trust is named as custodian, The Bank of New York Mellon as administrator and transfer agent, and CSC Delaware Trust Company as trustee, while key commercial terms were left blank for later amendments.
- Grayscale’s prospectus flags World Network’s use of Orb iris imaging and existing regulatory actions as principal risks and warns that an adverse securities classification or other regulatory decision could reduce WLD’s value or force the trust to terminate.
- Markets responded modestly with WLD rising about 4–4.5% to roughly $0.37 after the filing, while the prospectus shows roughly 3.5 billion WLD in circulation and stresses that the SEC has not approved the ETF or guaranteed a Nasdaq listing.