Grayscale Submits S-1 for Worldcoin ETF; WLD Jumps 4.5%

Grayscale has filed with the U.S. Securities and Exchange Commission (SEC) to launch a Worldcoin exchange-traded fund (ETF), aiming to list on Nasdaq under the ticker GWLD. Following the filing, the WLD token climbed 4.5% and broke above a descending channel on the four-hour chart. The crypto asset manager submitted an S-1 registration statement on Monday, positioning the product to give investors exposure to WLD. BitGo Bank & Trust is named as custodian for the token. BNY Mellon is set to serve as administrator and transfer agent, with CSC Delaware Trust Company acting as trustee. The registration statement does not specify liquidity providers, management fees, seed investment, or authorized participants. If approved, the trust would hold WLD as its primary asset and, according to the filing, would only hold the WLD token while processing share creations and redemptions. Under the proposed structure, shares could be created or redeemed in blocks of 10,000. Creations and redemptions could be executed via in-kind delivery of WLD tokens or through cash orders using liquidity providers. Grayscale said the fund would allow investors to access WLD through traditional brokerage accounts, avoiding operational hurdles such as crypto wallets, private keys, and exchange trading. Approval remains uncertain. The SEC may require additional amendments before granting regulatory clearance, and Nasdaq's decision to list the shares is also not assured. Grayscale also flagged regulatory headwinds facing Worldcoin, which has drawn scrutiny in Spain, Portugal, Germany, Hong Kong, Brazil, Kenya, and Indonesia. WLD is the native token of the World Network, founded by Sam Altman and Alex Blania. The broader ecosystem includes World ID, World App, World Chain, and Orb. In its risk discussion, Grayscale cited potential issues tied to World Network's biometric data collection, along with WLD price volatility, World Chain's centralized sequencer, and the possibility that WLD could be treated as a security under applicable laws. Disclaimer: This content is for informational purposes only and does not constitute legal, tax, investment, financial, or other advice. The article was originally published as "Grayscale Files For Worldcoin ETF, WLD Registers Sharp Rise" on Crypto Breaking News.