Grayscale Files for Worldcoin ETF, Signaling Wall Street Interest
New York, NY – The price of Worldcoin’s WLD token saw a significant surge following asset manager Grayscale’s announcement of its intention to launch the first U.S. exchange-traded fund (ETF) linked to the controversial biometric cryptocurrency project. This move brings Sam Altman’s eye-scanning venture a notable step closer to mainstream Wall Street adoption.
The WLD token climbed approximately 8% over a 24-hour period after the filing, reaching an intraday high of $0.387. Despite this uptick, the token remains down around 5.5% over the past seven days, according to data from CoinGecko.
On Monday, Grayscale submitted an S-1 registration statement for the Grayscale Worldcoin ETF. This “passive” investment vehicle is designed to hold WLD, the native token of the World Network, and track its price using the CoinDesk Worldcoin Benchmark Rate, as detailed in the filing.
Should the ETF receive approval, it is slated to list on Nasdaq under the ticker GWLD. The fund would utilize the exchange’s standard listing requirements for commodity-based trusts, potentially allowing it to launch without requiring a specific rule change from the Securities and Exchange Commission (SEC), provided WLD meets Nasdaq’s eligibility criteria. The filing indicates that BitGo Bank & Trust would serve as the custodian for the tokens, with the Bank of New York Mellon acting as the transfer agent and administrator. Currently, WLD ranks as the 55th-largest cryptocurrency, boasting a market capitalization of approximately $1.4 billion, according to CoinGecko.
Worldcoin, which rebranded to simply “World” in 2024, was co-founded by OpenAI CEO Sam Altman with the aim of establishing a global “proof of personhood” system. The project employs a spherical device known as the Orb to scan individuals’ irises, generating a unique “World ID” intended to verify a person’s identity and distinguish them from AI bots. Verified users are then rewarded with WLD tokens. The initiative has faced considerable regulatory scrutiny concerning its collection of biometric data, particularly in the European Union and countries such as Brazil and Kenya.
The ETF filing represents the latest indication of institutional interest in the WLD token. Last year, Nasdaq-listed Eightco established the first corporate treasury backed by WLD, accumulating one of the largest publicly disclosed holdings in the cryptocurrency.
This filing underscores Grayscale’s ongoing strategy to expand its cryptocurrency ETF offerings. The firm successfully converted its prominent Bitcoin trust into an ETF following a landmark legal victory against the SEC. Subsequently, Grayscale launched an Ethereum fund and has filed for or introduced products tied to other cryptocurrencies, including Dogecoin, Solana, XRP, Litecoin, and Chainlink.
For the time being, the filing marks only an initial step. The ETF cannot commence trading until the registration statement becomes effective and WLD satisfies Nasdaq’s listing requirements. However, if these conditions are met, it would provide retail investors with their first opportunity to invest in Worldcoin through a U.S. brokerage account.
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