According to Grayscale’s S-1 filing for the Worldcoin ETF, as of the filing date, the top 100 wallets by holdings collectively control about 90% of circulating WLD. Some of the addresses may belong to pooled wallets such as cross-chain bridges, and do not correspond to a single holder. World Chain still relies on a centralized sequencer, and network governance is mainly led by the World Foundation. Grayscale plans to list the ETF on Nasdaq under the ticker symbol GWLD. (Protos)

WLD0.20%
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BridgeExpert
· 3h ago
Centralized sequencers and foundation-led governance—plainly put, it’s the team calling the shots. Even if the ETF gets listed, it only adds a compliant trading channel; the fundamentals don’t change.
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YieldAsteroid
· 8h ago
An ETF on Nasdaq sounds pretty impressive, but World Chain is currently relying on a centralized sequencer, and governance is also controlled by the foundation—how is that so far from the spirit of decentralization?
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MAWeaver
· 8h ago
Does this move by Grayscale count as extending WLD’s lifespan? But judging from this structure, big players heavily control the market. Short-term speculation may work, but I’m skeptical about the long-term fundamentals.
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GateUser-0c86a4c9
· 8h ago
That concentration of holdings is just too exaggerated—90% of the circulating supply is in just 100 wallets. If retail investors go in, they probably end up being the bag-holders.
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