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Finance

President Lee calls for supplementary steps on volatile leveraged single-stock ETFs

President Lee Jae-myung ordered additional measures to reduce market shocks from single-stock leveraged exchange-traded funds that have been blamed for sharp swings in South Korea’s stock market. He said the products amplified gains in rising markets and deepened losses in falling markets, causing larger inefficiencies and damage for participants. Financial authorities have raised the margin deposit requirement and increased the minimum trading unit for such ETFs, with new rules due to take effect on Aug. 5.

Crypto

Grayscale moves to launch spot Worldcoin ETF, pending SEC and Nasdaq approval

Asset manager Grayscale has begun procedures to launch a spot exchange-traded fund based on the Worldcoin token, WLD. It filed a registration statement with the U.S. Securities and Exchange Commission for the Grayscale Worldcoin ETF, which would track a CoinDesk benchmark rate and list on Nasdaq under the symbol GWLD. The filing details custody and administration partners and flags regulatory risks, token volatility and ownership concentration.

AI & Enterprise

Nvidia joins Japan's FRONTIA national physical AI project

Japan's government is working with Nvidia to build national artificial intelligence infrastructure aimed at strengthening competitiveness in physical AI used in robotics and industrial automation. Up to 1 trillion yen is expected to be invested over the next five years. The economy ministry will support cooperation between consortium NOESTRA and Nvidia on the FRONTIA project, which runs until 2030 and will use Nvidia's Vera Rubin platform infrastructure.