Grayscale Files for Worldcoin ETF as WLD Surges on Filing News

Grayscale has filed an S-1 registration statement with the SEC to launch a spot Worldcoin ETF on Nasdaq under the ticker GWLD. This comes as WLD jumped around 3% to 4.5% after the filing news, trading near $0.375 to $0.377.

According to the filing, Grayscale formed the trust on July 10 and filed just 10 days later. The proposed structure includes BitGo Bank & Trust holding the fund's WLD, with the Bank of New York Mellon serving as administrator and transfer agent, and CSC Delaware Trust Company acting as trustee.

The filing also reveals that authorized participants can create or redeem shares in baskets of 10,000, either by delivering WLD directly or through cash orders handled by liquidity providers. Grayscale plans to list under Nasdaq's generic listing standards, allowing crypto ETFs to launch faster once the underlying token satisfies eligibility requirements.

However, several terms remain blank in the filing, including the management fee, initial seed investment, and how much WLD each share would represent. This means further amendments are expected before any launch.