The price of WLD increased by roughly 4.5%, reaching $0.37, following Grayscale’s application with the SEC for a new exchange-traded fund (ETF) that would directly hold World Network tokens.
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.
Grayscale plans to launch a new exchange-traded fund (ETF) called the Grayscale Worldcoin ETF, which will be listed on Nasdaq with the symbol GWLD. This ETF would allow investors to gain exposure to the WLD cryptocurrency without actually needing to purchase and hold the token themselves.
The fund’s price will reflect the value of its Worldcoin (WLD) holdings, tracked using the CoinDesk Worldcoin Benchmark Rate. Grayscale will cover the fund’s operating costs and fees by deducting them from the trust’s value, but the exact management fee hasn’t been announced yet.
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 authorized, GWLD would simply be a way for investors to hold WLD tokens, with WLD being its only holding. According to Grayscale’s proposal, the trust wouldn’t use risky techniques like borrowing or complex financial tools; it would just buy and store the token, and handle requests from shareholders to create or sell shares.
GWLD would give investors direct WLD price exposure
With the new plan, approved participants would buy or sell shares in groups of 10,000, referred to as “baskets.” They could do this by using WLD tokens or by making cash purchases facilitated by liquidity providers.
According to the official filing, BitGo Bank & Trust will be responsible for holding the WLD assets for the trust. The Bank of New York Mellon will manage the process as administrator and transfer agent, and CSC Delaware Trust Company will act as the trustee.
Grayscale is offering this fund to let investors access Worldcoin (WLD) using regular investment accounts. This means people can invest without needing to create a cryptocurrency wallet, manage security keys, or trade on crypto exchanges.
Submitting this paperwork doesn’t mean the SEC will automatically approve the investment product, or that Nasdaq will agree to list it. Since the filing is still missing some details, Grayscale might need to make changes before regulators can give the go-ahead for trading.
WLD is the official cryptocurrency of World Network, a system for digital identification created by Tools for Humanity. The company was originally called Worldcoin and was co-founded by Sam Altman and Alex Blania.
World Network is building tools to verify people online. Its main offering, World ID, proves that someone is a real, unique individual. The company also offers the World App, a network called World Chain built on Ethereum, and Orb devices which scan your iris to confirm your identity.
According to Grayscale’s recent filings, around 3.5 billion WLD tokens were available for trading as of June 30th. These tokens were worth about $1.4 billion in total, with $135.1 million worth being traded each day.
At the time of submission, WLD was ranked as the 41st largest cryptocurrency based on its total market value. The information also indicated that the planned fund would follow an asset with significantly less value and trading compared to popular cryptocurrencies like Bitcoin and Ethereum.
WLD has broken above its four-hour falling channel
As a researcher tracking Worldcoin (WLD), I observed a roughly 4.5% price increase to $0.37 immediately following the recent filing news. However, it’s important to note that the token is still significantly down, currently trading almost 97% below its peak value of $11.80 from March 2024.
Looking at the four-hour chart on TradingView, WLD was trading at about $0.377 after bouncing back from support at $0.353. The price also climbed above the top line of a downward-trending channel, suggesting that the selling is starting to slow down.
According to TradingView’s analysis using Fibonacci levels, the price is currently facing resistance around $0.3796. If the price breaks above this level and continues to rise, it could then test $0.3876, followed by $0.3957 and ultimately $0.4057.
As I’ve been analyzing the charts, it looks like WLD has a nearby support level at $0.3681 – meaning that’s where we might see some buying pressure to prevent further drops. If the price falls below that point, though, it could head down towards $0.3534, which is a price level where buyers stepped in previously and halted a decline.
Recent momentum indicators are showing positive signs, but it’s still too early to say if a strong upward trend is established. The relative strength index, measured over four hours, has risen to 49.59 – an increase from its average of 38.09 – and is nearing the neutral point of 50.
TradingView’s MACD indicator was negative at -0.0057, but it moved above its signal line of -0.0073. A slightly positive histogram reading of 0.0016 indicates that downward price pressure may be weakening as WLD approaches a resistance level around $0.3796.
Grayscale’s official documents highlighted the risks associated with collecting biometric data, specifically because World Network uses iris scanning with its Orbs technology. The filing revealed the project has encountered legal issues – including restrictions, enforcement actions, and court decisions – in multiple locations due to these biometric practices.
The registration document highlighted several key risks for World Chain, including its central control system, the potential for large and rapid price changes in WLD, and possible legal issues related to securities laws. Grayscale cautioned that negative rulings from regulators concerning WLD or related activities could lower the token’s value or even force the trust to shut down.
2026-07-21 01:38