Grayscale submitted a registration statement to the US Securities and Exchange Commission on Monday aiming to launch the first Worldcoin-based exchange-traded fund in the United States. If approved, the Worldcoin ETF would enable investors to access the Worldcoin (WLD) token through a regulated trading vehicle instead of direct crypto purchases.
Details of the Worldcoin ETF Proposal
The proposed fund, named Worldcoin ETF, plans to trade on the NASDAQ exchange under the ticker symbol GWLD. Grayscale selected BitGo Bank & Trust to custody the WLD tokens, while BNY Mellon will handle administrative functions. The CSC Delaware Trust Company is appointed as trustee for the fund.
The registration is missing certain details including management fees, seed capital, authorized participants, and liquidity providers, which are expected to be disclosed in future filings. This move adds to Grayscale?s portfolio of crypto investment products that already cover Bitcoin, Ethereum, XRP, Solana, Dogecoin, and Chainlink among others.
Worldcoin is an ERC-20 token used within the World initiative launched by Sam Altman, CEO of OpenAI. The project employs biometric technology to verify human users and combat bots on its platform by providing a unique identity system.
Approval of the Worldcoin ETF would give traditional market investors broader exposure to WLD through a regulated channel. Grayscale?s expansion into newer cryptocurrencies via ETFs supports diversification for its client base.
This material is for informational purposes only and does not constitute financial advice.
