Grayscale has filed registration documents with the U.S. Securities and Exchange Commission for a Worldcoin ETF, planning to launch the first U.S. exchange-traded fund linked to WLD. Following the announcement, WLD briefly rose, and the market reacted quickly to the product application.
Plans to list on Nasdaq
According to the documents, the fund is named Grayscale Worldcoin ETF, a passive investment product, with WLD, the native token of World Network, as its core asset. The fund plans to list on Nasdaq under the ticker symbol GWLD.
The documents show that the fund will track the WLD price through the CoinDesk Worldcoin Benchmark Rate. BitGo Bank & Trust is proposed to act as the custodian, and Bank of New York Mellon will be responsible for transfer and administration.
WLD short-term rebound
According to CoinGecko data, WLD rose approximately 8% in 24 hours following the application news, reaching a high of $0.387 at one point during the session. However, looking at a longer timeframe, the token is still down about 5.5% over the past 7 days.
- The price increased by approximately 8% in the last 24 hours.
- The intraday high was approximately $0.387.
- It has fallen by about 5.5% in the past 7 days.
By market capitalization, WLD currently ranks 55th among crypto assets, with a market value of approximately $1.4 billion.
The World Project is back in Wall Street's spotlight.
Worldcoin was renamed World in 2024. The project, co-founded by OpenAI CEO Sam Altman, primarily revolves around a "human verification" system. Its device, Orb, generates a World ID by scanning the iris, used to verify that the user is a real person and not an AI bot, and issues WLDs to users who complete the verification.
However, this project has also been under constant regulatory scrutiny due to issues related to the collection of biometric data, and has been subject to review by the European Union, as well as countries such as Brazil and Kenya.
Grayscale continues to expand its ETF product line
This application also shows that Grayscale is still pushing forward with the expansion of its crypto ETF products. Previously, the company had converted its Bitcoin Trust into an ETF, subsequently launched Ethereum-related funds, and submitted applications or launched products around assets such as Dogecoin, Solana, XRP, Litecoin, and Chainlink.
If the product is approved, ordinary investors will be able to indirectly hold WLD through US brokerage accounts. However, before it can be officially traded, the fund still needs to wait for registration to take effect and meet Nasdaq's listing requirements.
