Worldcoin token rises after Grayscale files for WLD ETF
Grayscale’s proposed Nasdaq-listed fund would hold WLD directly, according to an SEC filing, while CoinGecko data showed the token still down over the week.
By Sofia Marchetti · Columnist
· 3 min read
Worldcoin’s WLD token rose after Grayscale filed with the Securities and Exchange Commission to create a U.S. exchange-traded fund tied to the crypto project. For retail investors, the filing is a reminder that ETF wrappers can quickly change how accessible a token looks, even before regulators approve anything.
WLD gained about 8% over 24 hours after the filing and reached an intraday high of $0.387, according to CoinGecko data cited by Decrypt. The move only partly repaired recent losses: CoinGecko data showed WLD still down about 5.5% over the past seven days.
Grayscale filed an S-1 registration statement on Monday for the proposed Grayscale Worldcoin ETF, according to the SEC filing. An S-1 is the disclosure document companies and fund issuers file when they want to register securities with the SEC.
The fund would be a passive vehicle, according to the filing. In plain English, that means it would aim to track WLD rather than actively trade in and out of positions. The ETF would hold WLD, the native token of the World Network, and follow the CoinDesk Worldcoin Benchmark Rate, the filing said.
What Grayscale is trying to list
If approved, the Grayscale Worldcoin ETF would trade on Nasdaq under the ticker GWLD, according to the SEC filing. The filing said the product would use Nasdaq’s generic listing standards for commodity-based trusts, a structure that could allow it to list without a separate SEC rule change once WLD satisfies Nasdaq’s eligibility requirements.
BitGo Bank & Trust would custody the WLD tokens, while the Bank of New York Mellon would act as transfer agent and administrator, according to the filing. Custody means safeguarding the underlying assets, while a transfer agent helps maintain ownership records for fund shares.
CoinGecko ranked WLD as the 55th-largest cryptocurrency, with a market value of about $1.4 billion, according to Decrypt.
The project behind WLD
Worldcoin, rebranded as World in 2024 according to Reuters, was co-founded by OpenAI CEO Sam Altman. The project is built around what it calls “proof of personhood,” a system meant to verify that a user is a real human rather than an AI bot.
World uses a spherical device called the Orb to scan a person’s iris and issue a unique World ID, according to Decrypt. Verified users can receive WLD tokens.
The project has also drawn regulatory attention over biometric data collection. Decrypt cited scrutiny in the European Union and in countries including Brazil and Kenya.
Grayscale’s filing is not the only public-market connection to WLD cited by Decrypt. Nasdaq-listed Eightco previously built a corporate treasury around the token, accumulating one of the largest disclosed WLD holdings, according to company materials cited by Decrypt.
The ETF filing does not mean the product is approved. It starts a regulatory process that, if completed successfully, could give investors a brokerage-account route to WLD exposure without directly holding the token.
This story draws on original reporting from Decrypt.
