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Worldcoin's native token, $WLD, gained momentum after Grayscale submitted paperwork to launch what would become the first U.S. exchange-traded fund (ETF) focused on the cryptocurrency. The filing marks another step in bringing Sam Altman's digital identity project to traditional financial markets.
Following the announcement, $WLD rose roughly 8% over the past 24 hours, reaching an intraday high of around $0.387. Despite the rally, the token remained down about 5.5% over the previous week.
Grayscale filed an S-1 registration statement with U.S. regulators for the proposed Grayscale Worldcoin ETF.If regulators approve the proposal, the ETF is expected to trade on Nasdaq under the ticker GWLD. The filing indicates the fund would use Nasdaq's standard listing framework for commodity-based trusts, potentially avoiding the need for a separate SEC rule change if Worldcoin satisfies the exchange's listing requirements.
The documents also outline key service providers for the fund. BitGo Bank & Trust has been selected to safeguard the digital assets, while Bank of New York Mellon would oversee administrative duties and act as transfer agent.
Worldcoin, now operating under the shortened brand name World, was launched by OpenAI CEO Sam Altman and his co-founders with the goal of creating a global digital identity system. The project relies on its signature Orb device, which scans a person's iris to generate a unique World ID intended to verify that an individual is human rather than an AI-powered bot. Users who complete the verification process receive $WLD tokens as an incentive.
The initiative has attracted both attention and criticism since its launch. Regulators in several regions, including parts of Europe, Brazil, and Kenya, have raised concerns about the project's handling of biometric information and data privacy.
Grayscale's latest filing also reflects growing institutional interest in Worldcoin. Earlier this year, Nasdaq-listed Eightco announced plans to establish a corporate treasury centered on $WLD, becoming one of the first public companies to accumulate a significant position in the token.
The announcement sparked an extraordinary rally in Eightco shares. The stock soared thousands of percent in a single trading session after the company revealed its Worldcoin treasury strategy alongside a $20 million investment from crypto mining company BitMine. Although the share price later cooled, the move highlighted increasing corporate interest in the digital asset.
The proposed Worldcoin ETF is part of Grayscale's broader effort to expand its suite of cryptocurrency investment products. After successfully converting its flagship Bitcoin trust into a spot ETF, the asset manager has continued introducing and pursuing funds tied to several major cryptocurrencies, including Ethereum, Solana, XRP, Litecoin, Dogecoin, and Chainlink.
The Worldcoin ETF still faces regulatory review before it can begin trading. The registration statement must become effective, and the token must satisfy Nasdaq's listing standards. If those hurdles are cleared, the fund would provide U.S. investors with their first opportunity to gain exposure to Worldcoin through a traditional brokerage account without directly purchasing or managing the cryptocurrency themselves.